Macrosoft develops, produces, and markets a wide range of computer software, including the Windows operating system....

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Macrosoft develops, produces, and markets a wide range of computer software, including the Windows operating system. On its recent financial statements, Macrosoft reported the following information about net sales revenue and accounts receivable (amounts in millions). Accounts receivable, net of allowances of $413 and $377 Net sales revenue Current Year Year $ 29,624 $ 26,881 65,769 64,697 Prior According to its Form 10-K, Macrosoft recorded bad debt expense of $119 and there were no bad debt recoveries during the current year. Required: 1. Using the following T-account for Allowance for Doubtful Accounts, what amount of bad debts was written off during the current year? 2. Using the following T-account for Accounts Receivable (Gross), solve for cash collected from customers for the current year, assuming that all of Macrosoft's sales during the period were on open account. 2. Using the following T-account for Accounts Receivable (Gross), solve for cash collected from customers for the current ye assuming that all of Macrosoft's sales during the period were on open account. Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Using the following T-account for Accounts Receivable (Gross), solve for cash collected from customers for the current year, assuming that all of Macrosoft's sales during the period were on open account. (Enter your answers in millions not in dollars.) Accounts Receivable (Gross) Debit Credit Beginning balance 29,247 Net sales 65,769 83 Write-offs 65,769 Cash collections Ending balance 29,164 Macrosoft develops, produces, and markets a wide range of computer software, including the Windows operating system. On its recent financial statements, Macrosoft reported the following information about net sales revenue and accounts receivable (amounts in millions). Accounts receivable, net of allowances of $413 and $377 Net sales revenue Current Year Year $ 29,624 $ 26,881 65,769 64,697 Prior According to its Form 10-K, Macrosoft recorded bad debt expense of $119 and there were no bad debt recoveries during the current year. Required: 1. Using the following T-account for Allowance for Doubtful Accounts, what amount of bad debts was written off during the current year? 2. Using the following T-account for Accounts Receivable (Gross), solve for cash collected from customers for the current year, assuming that all of Macrosoft's sales during the period were on open account. 2. Using the following T-account for Accounts Receivable (Gross), solve for cash collected from customers for the current ye assuming that all of Macrosoft's sales during the period were on open account. Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Using the following T-account for Accounts Receivable (Gross), solve for cash collected from customers for the current year, assuming that all of Macrosoft's sales during the period were on open account. (Enter your answers in millions not in dollars.) Accounts Receivable (Gross) Debit Credit Beginning balance 29,247 Net sales 65,769 83 Write-offs 65,769 Cash collections Ending balance 29,164