As you're checking out the online edition of your local newspaper, you quickly scan a report in the business section that says government spending's will again exceed tax revenues in current year. what does this mean for the economy?

Below are the steps in the measurement process of external transactions. arrange them from first (1) to last (6). event step post transactions to the general ledger. assess whether the transaction results in a debit or credit to account balances. use source documents to identify accounts affected by an external transaction. analyze the impact of the transaction on the accounting equation. prepare a trial balance. record the transaction in a journal using debits and credits.