Macrosoft develops, produces, and markets a wide range of computer software. 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 $136 and $121 Net sales revenue Current Year $ 14, 189 60,620 Prior Year 11,338 52,322 According to its Form 10-K, Macrosoft recorded bad debt expense of $102 and there were no bad debt recoveries during the current year. (Hint. Refer to the summary of the effects of accounting for bad debts on the Accounts Receivable (Gross) and the Allowance for Doubtful Accounts T-accounts. Use the T-accounts to solve for the missing values.) Required: 1. What amount of bad debts was written off during the current year? 2. Based on your answer to requirement (1), solve for cash collected from customers for the current year, assuming that all of Macrosoft's sales during the period were on open account. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Based on your answer to requirement (1), 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) Beg. bal. End. bal. 0 Macrosoft develops, produces, and markets a wide range of computer software. 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 $136 and $121 Net sales revenue Current Prior Year Year $ 14,189 $ 11,338 60, 620 52,322 According to its Form 10-K, Macrosoft recorded bad debt expense of $102 and there were no bad debt recoveries during the current year. (Hint . Refer to the summary of the effects of accounting for bad debts on the Accounts Receivable (Gross) and the Allowance for Doubtful Accounts T-accounts. Use the T-accounts to solve for the missing values.) Required: 1. What amount of bad debts was written off during the current year? 2. Based on your answer to requirement (1), solve for cash collected from customers for the current year, assuming that all of Macrosoft's sales during the period were on open account. Complete this question by entering your answers in the tabs below. Required 1 Required 2 ... What amount of bad debts was written off during the current year? (Enter your answers in millions not in dollars.) .................................................. Allowance for Doubtful Accounts 121 Beg. bal. 102 Bad debt expense Write-offs 223 End. bal