Answer and Explanation:
The journal entries are shown below
On Sep 10
Account receivable - king $200
To Bad debt expense $200
(Being the reinstate previously written off account receivable is recorded)
Here account receivable is debited as it increased the assets and credited the bad debt expense as it decreased the expenses
On Sep 10
Cash Dr $200
To Account receivable - king $200
(Being cash collection is recorded)
Here the cash is debited as it increased the assets and account receivable is credited as it decreased the assets
Briefly explain why the data Brainard cites indicate that the Phillips curve is relatively flat.
Answer:
C. The flatter the Phillips curve, the less the inflation rate will rise, and the inflation rate has not risen much.
Explanation:
The following information is
There is a decline in the unemployment rate from 8.2% to 4.4%
The main inflation would be undershot 2 percent for 58 months
Based on the above information
The reason behind the Phillips curve be flat is that the lower rate of inflation would increased also the rate of inflation would not increased much as it should be increased
Therefore the option C is to be selected