1 point
Which of the following best represents economic activity during a
recession?
The unemployment rate decreased to 3.5%, and the inflation rate decreased to 2%,
while GDP increased by 11%.
O
GDP increased by 8% for three straight quarters.
Unemployed people begin worrying that they won't be able to find a job, as the number
of unemployed people keeps rising.
Americans begin worrying that the value of their money will go down when they see
the inflation rate increase to over 11%.

Johnson company uses the allowance method to account for uncollectible accounts receivable. bad debt expense is established as a percentage of credit sales. for 2018, net credit sales totaled $6,400,000, and the estimated bad debt percentage is 1.40%. the allowance for uncollectible accounts had a credit balance of $61,000 at the beginning of 2018 and $49,500, after adjusting entries, at the end of 2018.required: 1. what is bad debt expense for 2018 as a percent of net credit sales? 2. assume johnson makes no other adjustment of bad debt expense during 2018. determine the amount of accounts receivable written off during 2018.3. if the company uses the direct write-off method, what would bad debt expense be for 2018?