You have just been elected president of the united states, and the present chair of the federal reserve board has resigned. you need to appoint a new person to this position, as well as a person to chair your council of economic advisers. using your knowledge of macroeconomics, identify the personal characteristics and the views on macro theory and policy you would want your appointees to have and implement. remember, the economic health of the entire nation and solution to keeping the economy growing will be impacted by this decision.

Colorado rocky cookie company offers credit terms to its customers. at the end of 2018, accounts receivable totaled $715,000. the allowance method is used to account for uncollectible accounts. the allowance for uncollectible accounts had a credit balance of $50,000 at the beginning of 2018 and $30,000 in receivables were written off during the year as uncollectible. also, $3,000 in cash was received in december from a customer whose account previously had been written off. the company estimates bad debts by applying a percentage of 15% to accounts receivable at the end of the year. 1. prepare journal entries to record the write-off of receivables, the collection of $3,000 for previously written off receivables, and the year-end adjusting entry for bad debt expense.2. how would accounts receivable be shown in the 2018 year-end balance sheet?