On its recent financial statements, Hassell Fine Foods reported the following information about net sales revenue and accounts receivable (amounts in thousands): Accounts receivable, net of allowances of $343 and $307 Net sales revenue Current Year $15,489 65,170 Prior Year $13,238 55,872 According to its Form 10-K, Hassell recorded bad debt expense of $126 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 Hassell's sales during the period were on open account.

On its recent financial statements, Hasseli Fine Foods teponted the following information about net sales revenue and accounts receivable (amounts in thousands): According to its Form 10.K. Hassell recorded bad debt expense of $126 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 Hassell's sales during the period were on open account