LO4,5 E6-35. Analysis of Accounts Receivable and Allowance for Doubtful Accounts Steelcase, Inc. reported the following amounts in its 2014 and 2013 10-K reports (years ended February 28, 2014 and February 22, 2013). Steelcase, Inc. NYSE SCS 10 Chapter 6 Reporting and Analyzing Revenues, Receivables, and Operating Income ($ millions) 2014 2013 $2.989 $2,869 306.8 16.0 287.3 13.5 From the income statement: Net sales........... From the balance sheet: Accounts receivable, net. Customer deposits ... From the disclosure on allowance for doubtful accounts: Balance at beginning of period. ..... Additions (reductions) charged to income ......... Adjustments or deductions...... Balance at end of period .... 14.5 2.8 (4.3) 13.0 19.6 3.1 (8.2) 14.5 a. Prepare the journal entry to record accounts receivable written off as uncollectible in 2014. Also prepare the entry to record the provision for doubtful accounts (bad debts expense) for 2014. What effect did these entries have on Steelcase's income for that year? b. Calculate Steelcase's gross receivables for the years given, and then determine the allowance for doubtful accounts as a percentage of the gross receivables. c. Calculate Steelcase's accounts receivable turnover for 2014. (Use Accounts receivable.net for the calculation.) dHow much eash did Steelcase receive from customers in 20142