E6-17 LO6-3 ferring Bad Debt we Bad Debt Write-offs and Cash Collections from Customers Il develops, produces, and markets a wide range of computer software, including the Windows system. On its recent financial statements, Microsoft reported the following information about ales revenue and accounts receivable amounts in millions). PE perating system Current Year Prior Year $13,014 62,484 Accounts receivable, net of allowances of $333 and 5375 Net revenues $14.987 69,943 According to its Form 10-K, Microsoft recorded bad debt expense of S14 and there were no bad debt scoveries during the current year. (Hint: Refer to the summary of the effects of accounting for bad bis on the Accounts Receivable (Gross) and the Allowance for Doubtful Accounts T-accounts. Use the Taccounts to solve for the missing values.) Required: 1. What amount of bad debts was written off during the current year? 2. Based on your answer to requirement (1), solve for cash collected from customers for the current year, assuming that all of Microsoft's sales during the period were on open account