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Megasoft Corporation develops, produces, and markets a wide range of computer software including the Windows operating system. Megasoft reported the following information about Net Sales
Megasoft Corporation develops, produces, and markets a wide range of computer software including the Windows operating system. Megasoft reported the following information about Net Sales Revenue and Accounts Receivable (all amounts in millions). June 30, 2013 June 30, 2012 Accounts Receivable, Net of Allowances of $320 and $370 Net Revenues $17,050 70,000 $15,800 63,000 According to its Form 10-K, Megasoft recorded Bad Debt Expense of $23 and did not recover any previously written-off accounts during the year ended June 30, 2013. Required: . What amount of accounts receivable was written-off during the year ended June 30, 2013? (Enter your answer in millions.]) ounts Receivable Written-Off million 2. What was Megasoft's receivables turnover ratio in the current year? (Round your answer to 1 decimal place.) Receivables Turnover Ratio times
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