Credit cards are a. included in the m2 definition of the money supply, but not in the m1 definition. b. included in neither the m1 definition of the money supply nor in the m2 definition. c. included in both the m1 and the m2 definitions of the money supply. d. included in the m1 definition of the money supply, but not in the m2 definition.

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?