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Suppose Farmore, Inc., reported netreceivables of $2,588 million and $2,261 million at January 31, 2019, and 2018, respectively, after subtracting allowances of $66 million and
Suppose Farmore, Inc., reported netreceivables of $2,588 million and $2,261 million at January 31, 2019, and 2018, respectively, after subtracting allowances of $66 million and $64 million at these respective dates. Farmore earned total revenue of $50,000 million (all on account) and recorded uncollectible-account expense of $15 million for the year ended January 31, 2019 Read the requirement Requirement 1a. Use this information to measure the write-offs of uncollectible receivable amounts for the year ended January 31, 2019. Post the known transactions to the Allowance for Uncollectible Accounts to solve for the write-offs amount. (Enter amounts in millions of dollars as provided to you in the problem statement) Allowance for Uncollectible Accounts i Requirement 1. Use this information to measure the following amounts for the year ended January 31, 2019: a. Write-offs of uncollectible receivables b. Collections from customers Print Done
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