404SECTION 2 Assets P7-5 Avon Products, Inc., located in New York City, is one of the world's largest producers of beauty and related Receivabies; bad products. The company's consolidated balance sheets tor the 2015 and 2014 fiscal years included the following debts and returns; S in thousands) Avon Products, Inc. 2015 2014 Current assets: Receivables, less allowances of $86,700 in S443,000 $515,600 Real World Financials 2015 and $106,900 in 2014 A disclosure note accompanying the financial statements reported the following ($ in thousands): Year Ended 2015 2014 Cofculation of accourt receivables, net: Recelvables Less: allowance for doubtful accounts Less: reserve for product returns $529,700 77,600) (9,100) $443.000 $622,500 (93,700) (13,200) $515.600 Trade accounts receivable, net: Assurme that the company reported bad debt expense in 2015 of $144,100 and had products retumed for credit totaling $6,800 (salcs pricc). Net sales for 2015 were $6,076,500 ($in thousands) Required: 1. What is the amount of accounts receivable due from custoncrs at thc end of 2015 and 2014? 2. Whal amount of accounts receivable did Avon write off during 2015? 3. What is the amount of Avon's gross salcs for the 2015 fiscal ycar? 4. Assuming that all sales are made on a credit basis, what is the amount of cash Avon collected from customers during the 2015 fiscal year