Chapter 7 Homework Saved Help Save & Exit Submi Check my work 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 ($ in thousands): 10 points 2015 2014 Current assets: Receivables, less allowances of $22,051 in 2015 and $25,174 in 2014 $839, 410 $759.400 eBook Print A disclosure note accompanying the financial statements reported the following ($ in thousands) Rotorences Year Ended 2015 2014 (in thousands Calculation of account receivables, net! Receivables Less: allowance for doubtful accounts Les reserve for product returns Trade accounts receivable, neti $862,261 (9,043) (13,808) $839, 410 $784,574 19,095) (16,079) $759,400 Assume that the company reported bad debt expense in 2015 of $2.700 and had products returned for credit totalinn 5 sale Chapter 7 Homework Saved Help Save & Exit Submit Check my work 10 Trade accounts receivable, net: $839, 410 $759, 400 Assume that the company reported bad debt expense in 2015 of $2,700 and had products returned for credit totaling $3,335 (sales price). Net sales for 2015 were $6,209,800 (all numbers in thousands) 10 points Book 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 McConnell's 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 fiscal year? Print References Complete this question by entering your answers in the tabs below. Reg 1 Reg 2 to 4