Susan's paycheck each week is $10 per hour times the number of hours she works. Susan thus currently earns a wage of $10 per hour. Suppose the price of orange juice is $2.50 per gallon. The amount of orange juice she can buy with her paycheck is of orange juice, which represents her wage. When workers and firms negotiate compensation packages, they have expectations about the price level (and changes in the price level) and agree on a wage with those expectations in mind. If the price level turns out to be higher than expected, a worker's wage is than both the worker and employer expected when they agreed to the wage. Suppose that Susan and her employer both expected inflation to be 4% between 2010 and 2011. They signed a two-year contract stipulating that Susan would earn $10 per hour in 2010 and $10.40 per hour in 2011. However, actual inflation between 2010 and 2011 turned out to be 5% rather than the expected 4%. For example, suppose the price of orange juice rose from $2.50 per gallon to $2.63 per gallon. This means that between 2010 and 2011, Susan's nominal wage by , and her real wage by approximately .

Swathmore clothing corporation grants its customers 30 days' credit. the company uses the allowance method for its uncollectible accounts receivable. during the year, a monthly bad debt accrual is made by multiplying 3% times the amount of credit sales for the month. at the fiscal year-end of december 31, an aging of accounts receivable schedule is prepared and the allowance for uncollectible accounts is adjusted accordingly. at the end of 2012, accounts receivable were dollar 586.000 and the allowance account had a credit balance of dollar 50,000. accounts receivable activity for 2013 was as follows: the company's controller prepared the following aging summary of year-end accounts receivable: prepare a summary journal entry to record the monthly bad debt accrual and the write-offs during the year. (if no entry is required for a particular event, select "no journal entry required" in the first account field.) prepare the necessary year-end adjusting entry for bad debt expense. (if no entry is required for an event, select "no journal entry required" in the first account field.) what is total bad debt expense for 2013? calculate the amount of accounts receivable that would appear in the 2013 balance sheet?