chap 8

E8-13 Using Financial Statement Disclosures to Infer Write-Offs and Bad Debt Expense and to Calculate the Receivables Turnover Ratio (LO8-2, LO8-4] Microsoft Corporation develops, produces, and markets a wide range of computer software, including the Windows operating system. Assume Microsoft reported the following information about Net Sales Revenue and Accounts Receivable (in millions). June 30, 2020 June 30, 2019 Accounts Receivable, Net of Allowances of $284 and $149 $14,936 Net Revenues $18,566 58,629 42,296 Assume that, according to its annual report, Microsoft recorded Bad Debt Expense of $158 million and did not recover any previously written off accounts during the year ended June 30, 2020. Required: 1. What amount of accounts receivable was written off during the year that ended June 30, 2020? (Enter your answer in millions-no need to add the 6 zeros as your numbers are already in millions.) Accounts receivable written off 2. What was Microsoft's receivables turnover ratio in the current year? (Round your answer to 1 decimal place.) Receivables turnover ratio times