On december 31, 2015, after making a concerted effort, management determines that it will not be able to collect the $1,200 owed to it by its customer acme, inc. the company uses the direct write-off method to account for uncollectible accounts. prepare the necessary journal entry by selecting the account names and dollar amounts from the drop-down menus.

An increase in the market price of men's haircuts, from $16 per haircut to $26 per haircut, initially causes a local barbershop to have its employees work overtime to increase the number of daily haircuts provided from 20 to 25. when the $26 market price remains unchanged for several weeks and all other things remain equal as well, the barbershop hires additional employees and provides 40 haircuts per day. what is the short-run price elasticity of supply? nothing (your answer should have two decimal places.) what is the long-run price elasticity of supply? nothing (your answer should have two decimal places.)