inverness steel corporation is a producer of flat rolled carbon stainless and electeical steels and tubular products

Inverness Steel Corporation is a producer of flat-rolled carbon, stainless and electrical steels, and tubular products. The company's income statement for the 2021 fiscal year reported the following information ($ in millions): Cest Of goods gold $7,600 6, 600 The company's balance sheets for 2021 and 2020 included the following information ($ in millions): Current azeta: $ 732 Account' receivable, net Inventories $ 632 874 The statement of cash flows reported bad debt expense for 2021 of $5 million. The summary of significant accounting policies included the following notes ($ in millions): Accounts Receivable (in part) The allowance for uncollectible accounts was $7 and $4 at December 31, 2021 and 2020, respectively. All sales are on credit Inventories Inventories are valued at the lower of cost or market The cost of the majority of inventories is measured using the last-in, first-out (L IFO) method, Other inventories are measured principally at average cost and consist mostly of foreign inventories and certain raw materials. If the entire inventory had been valued on an average cost basis, inventory would have been higher by $620 and $470 at the end of 2021 and 2020. respectively. During 2021, 2020. and 2019, liquidation of LIFO layers generated income of $6. $7, and $25, respectively Required: 1. Determine the amount ot accounts receivable Inverness wrote off during 2021. (Enter