E8-13 Using Financial Statement Disclosures to Infer Write-Offs and Bad Debt Expense and to Calculate the Receivables Turnover Ratio (LO2, L04) Microsoft Corporation develops, produces, and markets a wide range of computer software, including the Windows operating system. Assume Microsoft reported the following information about Net Sales Revenue and Accounts Receivable (in millions). June 30, 2017 June 30, 2016 Accounts Receivable, Net of Allowances of $325 and $214 Net Revenues $ 29,543 107,052 $21, 434 83,684 Assume that, according to its annual report, Microsoft recorded Bad Debt Expense of $237 million and did not recover any previously written off accounts during the year ended June 30, 2017. Required: 1. What amount of accounts receivable was written off during the year ended June 30, 2017? (Enter your answer in millions.) Accounts receivable written off 2. What was Microsoft's receivables turnover ratio in the current year? (Round your answer to 1 decimal place.) Receivables turnover ratio times