1- ) Miller Company reported the following information in its 2017 financial statements ($ in millions): 2017 2016 Balance Sheet: Accounts receivable, net $ 3,149.8 $ 2,177.0 Income statement: Sales revenue $ 19,482.6 A note disclosed that the allowance for uncollectible accounts had a balance of $45.4 million and $42.1 million at the end of 2017 and 2016, respectively. Bad debt expense for 2017 was $32.4 million. Required: Determine the amount of cash collected from customers during 2017. (All sales are on credit. Enter your answer in millions rounded to 1 decimal place (i.e., 5,500,000 should be entered as 5.5).)

Cash collections $?????

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2-) Raintree Cosmetic Company sells its products to customers on a credit basis. An adjusting entry for bad debt expense is recorded only at December 31, the companys fiscal year-end. The 2020 balance sheet disclosed the following:

Current assets:
Receivables, net of allowance for uncollectible accounts of $33,000	$	447,000

During 2021, credit sales were $1,765,000, cash collections from customers $1,845,000, and $38,000 in accounts receivable were written off. In addition, $3,300 was collected from a customer whose account was written off in 2020. An aging of accounts receivable at December 31, 2021, reveals the following:

	Percentage of Year-End		Percent
Age Group	Receivables in Group		Uncollectible
060 days	70	%	5	%
6190 days	20		15
91120 days	5		20
Over 120 days	5		40

Required: 1. Prepare summary journal entries to account for the 2021 write-offs and the collection of the receivable previously written off.

No	Event	General Journal	Debit	Credit
1	1	Allowance for uncollectible accounts	38,000
		Accounts receivable		38,000
2	2	Accounts receivable	3,300
		Allowance for uncollectible accounts		3,300
3	3	Cash	3,300
		Accounts receivable		3,300

2. Prepare the year-end adjusting entry for bad debts according to each of the following situations:

Prepare the year-end adjusting entry for bad debts.

Bad debt expense is estimated to be 4% of credit sales for the yea.

Bad debt expense 70600

Allowance for uncollectible accounts 70600

Bad debt expense is estimated by computing net realizable value of the receivables. The allowance for uncollectible accounts is estimated to be 10% of the year-end balance in accounts receivable.

Bad debt expense ????

Allowance for uncollectible accounts ?????

Bad debt expense is estimated by computing net realizable value of the receivables. The allowance for uncollectible accounts is determined by an aging of accounts receivable.

Bad debt expense ????

Allowance for uncollectible accounts ?????