Counselors of Milton purchased equipment on January 1, 2023, for . Counselors of Milton expected the equipment to last for seven years and have a residual value of . Suppose Counselors of Milton sold the equipment for on after using the equipment for three full years. Assume depreciation for 2025 has been recorded. Journalize the sale of the equipment, assuming straight-line depreciation was used.

1   all nations face the problem of scarcity because there are limited resources and unlimited wants. nations do not have enough factors of production to produce everything that their population wants. entrepreneurial resources initiate businesses to make new goods and services; labor resources produce goods and services.

2 there are four factors of production: natural resources, labor resources, capital resources, and entrepreneurial resources. natural resources are raw materials from nature that are used to produce goods. trees, water, and grains are natural resources. some natural resources, such as wheat and cattle, are renewable

3 wants

things that you do not need to have in order to survive, but would like to have

needs

things that you must have in order to survive

goods

physical products

services

tasks that a business perform for customers

resources

items that people can use to make or obtain what they need or want

determine

to settle or decide by choice of alternatives or possiblities

4 i really dont know

answer; be sure that the information on file is correct;

answer///the madrid protocol;