10 McConnell Products, Inc., located in New York City, is one of the world's largest producers of beauty and related products. The company's consolidated balance sheets for the 2015 and 2014 fiscal years included the following (5 in thousands current assets Receivables, less allowances of $22,541 in 2015 and $24,864 in 2014 5839,010 $759,200 A disclosure note accompanying the financial statements reported the following ($ in thousands) 2015 2014 oin thousands) calculation of account receivables, net Receivables Lesst allowance for doubtful accounts Less: reserve for product returns Trade accounts receivable, net: $861,551 (9,013) 25. $839, B1e $784,064 (9,865) 15799) $759, 2ee Assume that the company reported bad debt expense in 2015 of $2.500 and had products returned for credit totaling $3,305 (sales price). Net sales for 2015 were $6.199,800 (all numbers in thousands). Required: 1. What is the amount of accounts receivable due from customers at the end of 2015 and 2014 2. What amount of accounts receivable did McConnell write off during 2015? 3. What is the amount of McConnells gross sales for the 2015 fiscal year? 4. Assuming that all sales are made on a credit basis, what is the amount of cash McConnell collected from customers during the 2015 scal years % Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Type here to search