School SUMME Problem 2 (15 Points)-Accounts Receivable ng Company prepared the following aging schedule on December 31, 2017: Age of Amount of Receivables Collectible Not Yet Due S 50,000,000 10,000,000 5,000,000 99.0 % 75.0 % 40.0 % 0-60 Days Past Due > 60 Days Past Due Big Manufacturing began 2017 with aet Accounts Receivable of s 57,.000,000, composed gross "Accounts Receivable" of S 60,000,000 less an "Allowance for Doubtful Accounts" $ 3,000,000. Big Manufacturing Company has a policy of writing off all receivables that are greater than Days Past Due. During 2017, $4,000,000 cy. Big Manufacturing e were no recoveries of receivables that had previously been written off. of receivables were "written off" as a result of this did not record any provisions for uncollectibles during 2017, and l of Big's sales are made on account. During 2017, "Sales Revenue" totaled S 240,000,000. ing the information provided above, please answer the following questions What is the net (i.e. Gross less the Allowance) Accounts Receivable that should appear on Big Manufacturing's December 31, 2017 Balance Sheet? Co.oo iboo x gl % t lo, ooo.ou?ax >?7-+ ?.coo,000A 60% 500,000 .500,00o 3,000 0o0 1000, 00o +t,000,000 60% 0, 000, 0v0- ven your answer to Part A, what adjusting journal entry should Big Manufacturing pare on December 31, 2017 to record the appropriate "Bad Debt Expense" for 201 School SUMME Problem 2 (15 Points)-Accounts Receivable ng Company prepared the following aging schedule on December 31, 2017: Age of Amount of Receivables Collectible Not Yet Due S 50,000,000 10,000,000 5,000,000 99.0 % 75.0 % 40.0 % 0-60 Days Past Due > 60 Days Past Due Big Manufacturing began 2017 with aet Accounts Receivable of s 57,.000,000, composed gross "Accounts Receivable" of S 60,000,000 less an "Allowance for Doubtful Accounts" $ 3,000,000. Big Manufacturing Company has a policy of writing off all receivables that are greater than Days Past Due. During 2017, $4,000,000 cy. Big Manufacturing e were no recoveries of receivables that had previously been written off. of receivables were "written off" as a result of this did not record any provisions for uncollectibles during 2017, and l of Big's sales are made on account. During 2017, "Sales Revenue" totaled S 240,000,000. ing the information provided above, please answer the following questions What is the net (i.e. Gross less the Allowance) Accounts Receivable that should appear on Big Manufacturing's December 31, 2017 Balance Sheet? Co.oo iboo x gl % t lo, ooo.ou?ax >?7-+ ?.coo,000A 60% 500,000 .500,00o 3,000 0o0 1000, 00o +t,000,000 60% 0, 000, 0v0- ven your answer to Part A, what adjusting journal entry should Big Manufacturing pare on December 31, 2017 to record the appropriate "Bad Debt Expense" for 201