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References TLC Inc. manufactures largescale, highperformance computer systems. In a recent annual report, the balance sheet included the following information [$ in millions]: 2615 2614 Current assets: Receivables, less allowances of $253 in 2-815 and $232 in 2314 5 5,37? $ 5,313 In addition, the income statement reported sales revenue of $38,788 [$ in millions) for the current year. All sales are made on a credit basis. The statement of cash ows indicates that cash collected from customers during the current year was $39,737 {$ in millions}. There were no recoveries of accounts receivable previously written off. Required: 1. Compute the following {$ in millions}: in. "he net amount of bad debts written off or reinstated by EMC during 2015. b. 'he amount of bad debt expense or reduction of bad debt expense that EMC included in its income statement for 2015. 1 Suppose that EMC had used the direct writeoff method to account for bad debts. Compute the following {$ in millions]: a. 'he accounts receivable information that would be included in the 2015 yearend balance sheet. In. "he amount of bad debt expense or reduction of bad debt expense that EMC included in its income statement for 2015. Complete this question by entering your answers in the tabs below. Reg ZA Reg ZB Calculate the amount of bad debts written off by TLC during 2015, bad debt expense that TLC would include in its income statement for 2015 and the approximate percentage that 11C used to estimate debts for 2015,. assuming that it uses the income statement approach. (Enter your answers in millions, negative amounts should be indicated by a minus sign and round your percentage answer to 1 decimal place.) Show less; Bad debts written o (reinstated) b. Ba d debt expe nse Reg ZA > \fComplete this question by entering wur answers in the labs below. Suppose that TLC had used the direct write-off method to account for bad debts, calculate the amount of bad debt expense Ethat TLC would include in its 2015 income statement. {Enter your answers in millions. Negative amounts should be entered