Business, 12.04.2021 21:10 eduardoguizar8787
Analysis of Accounts Receivable and Allowance for Doubtful Accounts Steelcase, Inc. reported the following amounts in its 2018 and 2017 10-K reports (years ended February 23, 2018, and February 24, 2017). ($ millions) 2018 2017 From the income statement: Net sales $3,055.5 $3,032.4 From the balance sheet: Accounts receivable, net 300.3 307.6 Customer deposits 28.2 15.9 From the disclosure on allowance for doubtful accounts: Balance at beginning of period 11.2 11.7 Additions (reductions) charged to income 2.5 4.5 Adjustments or deductions (2.6) (5.0) Balance at end of period 11.1 11.2 a. Prepare the journal entry to record accounts receivable written off as uncollectible in 2018. Also prepare the entry to record the provision for doubtful accounts (bad debts expense) for 2018. Enter answers in millions (as shown above).
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Analysis of Accounts Receivable and Allowance for Doubtful Accounts Steelcase, Inc. reported the fol...
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