Please assist with the following question: Analysis of Accounts Receivable and Allowance for...
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Please assist with the following question:
Analysis of Accounts Receivable and Allowance for Doubtful Accounts Steelcase, Inc. reported the following amounts in its 2014 and 2013 10-K reports (years ended February 28, 2014 and February 22, 2013) ($ millions) From the income statement: Net sales From the balance sheet Accounts receivable, net Customer deposits From the disclosure on allowance for doubtful accounts: Balance at beginning of period Additions (reductions) charged to income Adjustments or deductions Balance at end of period 2014 2013 $2,989 2,869 306.8 287.3 16.013.5 14.5 19.6 3.1 (4.3) (8.2) 13.014.5 2.8 a. Prepare the journal entry to record accounts receivable written off as uncollectible in 2014 Also prepare the entry to record the provision for doubtful accounts (bad debts expense) for 2014. Enter answers in millions (as shown above)
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