Suppose Overpriced, Inc., reported net receivables of $2,582 million and $2,269 million at January 31, 2013, and

Question:

Suppose Overpriced, Inc., reported net receivables of $2,582 million and $2,269 million at January 31, 2013, and 2012, after subtracting allowances of $71 million and $67 million at these respective dates. Overpriced earned total revenue of $26,667 million (all on account) and recorded doubtful-account expense of $8 million for the year ended January 31, 2013.

Requirement
1. Use this information to measure the following amounts for the year ended January 31, 2013:
a. Write-off s of uncollectible receivables
b. Collections from customers