Analysis of Accounts Receivable and Allowance for Doubtful Accounts Steelcase, Inc. reported the following amounts in its 2014 and 2013 10-K reports (years ended February 28, 2014 and February 22, 2013). ($ millions) 2014 2013 From the income statement: Net sales $ 3,189 $3,044 From the balance sheet: Accounts receivable, net 337.8 304.3 Customer deposits 22.0 19.5 From the disclosure on allowance for doubtful accounts: Balance at beginning of period 16.5 21.6 Additions (reductions) charged to income 4.8 5.1 Adjustments or deductions (6.3) (10.2) Balance at end of period 15.0 16.5 a. Prepare the journal entry to record accounts receivable written off as uncollectible in 2014. Also prepare the entry to record the provision for doubtful accounts (bad debts expense) for 2014. Enter answers in millions (as shown above). Debit OX 0 Credit 0 OX General Journal Description Allowance for doubtful accounts Accounts receivable To write-off uncollectible accounts. Provision for doubtful accounts Allowance for doubtful accounts To record the provision for doubtful accounts. OX 0 0 0 x b. Calculate Steelcase's gross receivables for the years given, and then determine the allowance for doubtful accounts as a percentage of the gross receivables. 2014 2013 Gross accounts receivable (in millions) Ox $ Allowance as a % of gross receivables (Round to one decimal place.) 0 % x 0 % X c. Calculate Steelcase's accounts receivable turnover for 2014. (Use Accounts receivable, net for the calculation.) Round answer to one decimal place. timas