ring 2020 0 Saved 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 $223 and $187 Net sales revenue Current Year 14,289 62,170 Prior Year 12,038 52,872 $ $ According to its Form 10-K, Hassell 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 Hassell's sales during the period were on open account. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Allowance for Doubtful Accounts Beg bal. End. bal. Prey 1 of 27 !!! Next > Based on your answer to requirement (1), solve for cash collected from customers for the current year, assuming that all of Hassell's sales during the period were on open account. (Enter your answers in thousands not in dollars.) Accounts Receivable (Gross) Beg bal End, bal ring 2020 0 Saved 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 $223 and $187 Net sales revenue Current Year 14,289 62,170 Prior Year 12,038 52,872 $ $ According to its Form 10-K, Hassell 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 Hassell's sales during the period were on open account. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Allowance for Doubtful Accounts Beg bal. End. bal. Prey 1 of 27 !!! Next > Based on your answer to requirement (1), solve for cash collected from customers for the current year, assuming that all of Hassell's sales during the period were on open account. (Enter your answers in thousands not in dollars.) Accounts Receivable (Gross) Beg bal End, bal
