Interpreting the Accounts receivable Footnote Hewlett-Packard Company (HPQ) reports the following in its 201010K report. HPQ footnotes to its 10K provide the following additional information relating to its allowance for doubtful accounts. (a) What is the gross amount of accounts receivables for HPQ in fiscal 2010 and 2009 ? (b)What is the percentage of the allowance for doubtful accounts to gross accounts receivable for 2010 and 2009 ? (Round your answers to two decimal places.) (c)What amount of bad debts expense did HPQ report each year 2008 through 2010 ? What amount was actually written off? Which of the following statements describes how bad debts expense compares with the amounts of its accounts receivable actually written off? Generally, HP has overestimated its accruals, which has inflated profit by the over-accrual of bad debts. Generally, HP has underestimated its accruals, which has inflated profit by the under-accrual of bad debts. TThe difference between bad debt expense and write-off during the three years is small, so it appears they are accurately accruing for anticipated credit losses. The difference between bad debt expense and write-off during the three years has inflated HPQ's cash flows reported. (d)Compute HPQ's write-offs as a percentage of the allowance account at the beginning of the year (Round your answers to two decimal places). 2010 write-offs as a percentage of beginning of year allowance: % 2009 write-offs as a percentage of beginning of year allowance: %