eBookShow Me HowPrint Item Journal Entries and Trial Balance On October 1, 2018, Jay Crowley established Affordable Realty, which completed the following transactions during the month: Jay Crowley transferred cash from a personal bank account to an account to be used for the business in exchange for Common Stock, $26,000. Paid rent on office and equipment for the month, $4,860. Purchased supplies on account, $1,440. Paid creditor on account, $530. Earned sales commissions, receiving cash, $22,100. Paid automobile expenses (including rental charge) for month, $1,350, and miscellaneous expenses, $910. Paid office salaries, $2,830. Determined that the cost of supplies used was $800. Paid dividends, $1,300.

The business cycle is the periodic but irregular up-and-down movement in economic activity, measured by fluctuations in real gross domestic product (gdp) and other macroeconomic variables. a business cycle is typically characterized by four phases—recession, recovery, growth, and decline—that repeat themselves over time. economists note, however, that complete business cycles vary in length. the duration of business cycles can be anywhere from about two to twelve years, with most cycles averaging six years in length. some business analysts use the business cycle model and terminology to study and explain fluctuations in business inventory and other individual elements of corporate operations. but the term "business cycle" is still primarily associated with larger (industry-wide, regional, national, or even international) business trends.

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