Economies organize according to the principle of specialization and exchange because doing so A. enables the government to exercise greater control than would otherwise be possible B. forces people to work longer hours than they would do normally C. eliminates the "law of increasing opportunity costs" D. enables workers to move up to management in the least amount of time E. enables greater production to be realized than would otherwise be possible

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?