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Question - Based on the information below, calculate the bad debt expense for the year?
On 1 July 2018, Morton Limited had an accounts receivable balance of $155,000 and an allowance for doubtful debts balance of $6,100. During the year ended 30 June 2019, credit sales amounted to $875,500 and cash collected from customers was $817,900. At the end of the financial year, the credit manager decided that accounts totalling $12,200 should be written off as bad debts and the allowance for doubtful debts should be $10,200.
a. None of the answers provided
b. $16,300
c. $4,100
d. $2,000
Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest. How much control does the Fed have over this longer real rate?
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