2.00 points E6-17 Inferring Bad Debt Write-Offs and Cash Collections from Customers LO6-3 Microsoft develops, produces, and markets a wide range of computer software, including the Windows operating system. On its recent financial statements, Microsoft reported the following information about net sales revenue and accounts receivable (amounts in millions). Accounts receivable, net of allowances of $333 and $375 Net revenues Current Year $ 14,987 $ 69,943 Prior Year 13,014 62,484 According to its Form 10-K, Microsoft recorded bad debt expense of $14 and there were no bad debt recoveries during the current year. (Hint: Refer to the summary of the effects of accounting for bad debts on the Accounts Receivable (Gross) and the Allowance for Doubtful Accounts T-accounts. Use the T-accounts to solve for the missing values.) Required: 1. What amount of bad debts was written off during the current year? (Enter your answers in millions not in dollars.) Allowance for Doubtful Accounts Beg. bal. End. bal. 0 26 2. Based on your answer to requirement (1), solve for cash collected from customers for the current year, assuming that all of Microsoft's sales during the period were on open account. (Enter your answers in millions not in dollars.) Accounts Receivable (Gross) Beg. bal. End. bal. 0 26