Analysis of Accounts Receivable and Allowance for Doubtful Accounts Steelcase, Inc. reported the following amounts in its 2018 and 2017 10-K reports (years ended February 23, 2018, and February 24, 2017). ($ millions) 2018 2017 From the income statement: Net sales $3,055.5 $3,032.4 From the balance sheet: Accounts receivable, net 300.3 307.6 Customer deposits 28.2 15.9 From the disclosure on allowance for doubtful accounts: : Balance at beginning of period 11.2 11.7 Additions (reductions) charged to income 2.5 4.5 Adjustments or deductions (2.6) (5.0) Balance at end of period 11.1 11.2 a. Prepare the journal entry to record accounts receivable written off as uncollectible in 2018. Also prepare the entry to record the provision for doubtful accounts (bad debts expense) for 2018. Enter answers in millions (as shown above). General Journal Description Debit Credit Allowance for doubtful accounts 2.5 x 0 Accounts receivable 0 2.5 x To write-off uncollectible accounts. Provision for doubtful accounts 2.6 x Allowance for doubtful accounts 2.6 x To record the provision for doubtful accounts. 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. 2018 2017 Gross accounts receivable (in millions) $ 311.4 $ 318.8 Allowance as a % of gross receivables (Round to one decimal place.) 3.56% * 3.51% x C. Calculate Steelcase's accounts receivable turnover for 2018. (Use Accounts receivable, net for the calculation.) Round answer to one decimal place. 10.1 times d. How much cash did Steelcase receive from customers in 2018? $ 3,060.4 x million