Daimler AG is a globally leading producer of premium passenger
Daimler AG is a globally leading producer of premium passenger cars and the largest manufacturer of commercial vehicles in the world. Its group of businesses includes Mercedes- Benz Cars, Daimler Trucks, Daimler Financial Services, Mercedes- Benz Vans, and Daimler Buses. In a recent annual report, it disclosed the following information concerning its allowance for doubtful accounts:
Required:
1. Record summary journal entries related to bad debts for the current year. Ignore the currency translations and other changes.
2. If Daimler had written off an additional € 10 million of trade receivables during the period, how would net receivables and net earnings have been affected? Explain.
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