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Amdahl Corporation manufactures large - scale, high performance computer systems. In a recent annual report, the balance sheet included the following information:Current YearPrevious YearCurrent assets:
Amdahl Corporation manufactures largescale, high performance computer systems. In a recent annual report, the balance sheet included the following information:Current YearPrevious YearCurrent assets: Receivables, net of allowances of $ and $ in the previous year$$In addition, the income statement reported sales revenue of $ for the current year. All sales are made on a credit basis. The statement of cash flows indicates that cash collected from customers during the current year was $ There were no recoveries of accounts receivable previously written off.Answer the following questions DO NOT enter commas nor Dollar signs S nor percentages : Compute the amount of uncollectibles written off by Amdahl during the current year. $ Compute the amount of bad debt expense that Amdahl would include in its income statement for the current year. $ What is the approximate percentage that Amdahl used to estimate uncollectibles for the current year calculated as a percentage of sales? Suppose that Amdahl had used the direct writeoff method to account for uncollectibles. Compute the accounts receivable information that would be included in the yearend balance sheet. $ Suppose that Amdahl had used the direct writeoff method to account for uncollectibles. Compute the amount of bad debt expense that Amdahl would include in its income statement for the current year. $
Amdahl Corporation manufactures largescale, high performance computer systems. In a recent annual report, the balance sheet included the following information:Current YearPrevious YearCurrent assets: Receivables, net of allowances of $ and $ in the previous year$$In addition, the income statement reported sales revenue of $ for the current year. All sales are made on a credit basis. The statement of cash flows indicates that cash collected from customers during the current year was $ There were no recoveries of accounts receivable previously written off.Answer the following questions DO NOT enter commas nor Dollar signs S nor percentages : Compute the amount of uncollectibles written off by Amdahl during the current year. $ Compute the amount of bad debt expense that Amdahl would include in its income statement for the current year. $ What is the approximate percentage that Amdahl used to estimate uncollectibles for the current year calculated as a percentage of sales? Suppose that Amdahl had used the direct writeoff method to account for uncollectibles. Compute the accounts receivable information that would be included in the yearend balance sheet. $ Suppose that Amdahl had used the direct writeoff method to account for uncollectibles. Compute the amount of bad debt expense that Amdahl would include in its income statement for the current year. $
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