Your instructor feels that the authors of the book oversimplify the different views macroeconomists hold. Consequently, students who read this book and watch these videos may come away thinking they have a good handle on the major macroeconomic views, when in reality, economic views have evolved a great deal since the early days of Keynesianism. Furthermore, the views covered are not the only major views held by important macroeconomists, and many macroeconomists hold viewpoints that borrow from more than one general view. True or false: Your instructor feels that this chapter oversimplified the major views in modern macroeconomics.

Exercise 7-7 martinez company reports the following financial information before adjustments. dr. cr. accounts receivable $168,900 allowance for doubtful accounts $3,200 sales revenue (all on credit) 849,300 sales returns and allowances 50,440 prepare the journal entry to record bad debt expense assuming martinez company estimates bad debts at (a) 4% of accounts receivable and (b) 4% of accounts receivable but allowance for doubtful accounts had a $1,550 debit balance. (if no entry is required, select "no entry" for the account titles and enter 0 for the amounts. credit account titles are automatically indented when the amount is entered. do not indent manually.)