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Chapter 7 HW 6 Saved Help Save &Exit Submit Problem 7-5 Receivables; bad debts and returns; McConnell Products, Inc.[L07-4,7-5 Check my work McConnell Products, Inc., located in New York City, is one of the world's largest producers of beauty and related products. The company's consolidated balance sheets for the 2015 and 2014 fscal years included the following ($ In thousands) points Current assetst Receivables, less allovances of $22,541 in eBook 2015 and $24,864 in 2014 $839,010 $759,200 Print Roferences A disclosure note accompanying the financial statements reported the following ($ in thousands) (In thounands) Caleulation of account receivables, net $861,551 $784,064 Receivables Less: allovance for doubtful accounts Lesst reserve for product returns 9,013) (9.065) 839,010 $759,200 Trade accounts receivable, net Assume that the company reported bad debt expense in 2015 of $2.500 and had products returned for credit totaling $3,305 (sales price). Net sales for 2015 were $6,199,800 (all numbers in thousands) Required: K Prev 14 of 16l Next> Chapter 7 Hw Saved Help Required: 1. What is the amount of accounts receivable due from customers at the end of 2015 and 2014? 2. Wh 3. What is the amount of McConnell's gross sales for the 2015 fiscal year? 4. Assuming that all sales are made o fiscal year? at amount of accounts receivable did McConnell write off during 2015? n a credit basis, what is the amount of cash McConnell collected from custom Complete this question by entering your answers in the tabs below. Req 1 Req 2 to 4 What is the thousands.) amount of accounts receivable due from customers at the end of 2015 and 20147 (Enter your answers in 2015 2014 Accounts receivable (gross) Req 1 Req 2 to 4> Chapter 7 HW 0 Saved Required: 1. What is the amount of accounts receivable due from customers at the end of 2015 and 2014? 2. What amount of accounts receivable did McConnell write off during 2015? 3. What is the amount of McConnell's gross sales for the 2015 fiscal year? 4. Assuming that all sales are made on a credit basis, what is the amount of cash McConnell collected from cu fiscal year? Complete this question by entering your answers in the tabs below. Req 1 Req 2 to 4 What amount of accounts receivable did McConnell write off during 2015? What is the amount of McConnell's gross the 2015 fiscal year? Assuming that all sales are made on a credit basis, what is the amount of cash McConnell colle customers during the 2015 fiscal year? (Enter your answer in thousands.) 2. Accounts receivable write off 3. Gross sales 4. Cash collections K Req 1