Minta Corporation, is a leading manufacturer of sports apparel, shoes, and equipment. The company's 2020 financial statements contain the following information ($ in millions): Balance sheets: Accounts receivable, net Allowance for uncollectible accounts Income statements: Sales revenue Statement of Cash Flows: Amortization, impairment and other Decrease in accounts receivable Assume that all sales are made on a credit basis. 2020 $ 3,794 233 40,348 417 1,258 2019 $ 5,317 87 Required: 1. What is the amount of gross (total) accounts receivable due from customers at the end of 2020 and 2019? 2. Assume that bad debt expense is included in "amortization, impairment and other," such that the 2020 decrease in accounts receivable of $1,258 reflects only the difference between sales and collections. Prepare a T account that depicts how sales, collections, bad debt expense, and writeoffs of bad debts affect the balance of net accounts receivable with a debit, a credit or not at all, and estimate Minta's 2020 bad debt expense. 3. Prepare a T account that depicts how bad debt expense and writeoffs of bad debts affect the balance of the allowance for uncollectible accounts with a debit, credit or not at all, and estimate the amount of bad debts written off by Minta during 2020. received from 4 Analyze changes in the unts receivable unt to calculate the amount of c during

Laiho Industries's 2020 and 2021 balance sheets (in thousands of dollars) are shown.   Laiho Industries: Balance Sheets as of December 31 (thousands of dollars)   2021   2020   Cash $ 102,785   $ 89,530   Accounts receivable   103,454     85,552   Inventories   39,771     36,287      Total current assets $ 246,010   $ 211,369   Net fixed assets   63,528     40,673   Total assets $ 309,538   $ 252,042                 Accounts payable $ 32,604   $ 24,450   Accruals   29,905     21,470   Notes payable   16,454     13,454      Total current liabilities $ 78,963   $ 59,374   Long-term debt   76,373     65,273      Total liabilities $ 155,336   $ 124,647   Common stock   105,000     95,000   Retained earnings   49,202     32,395      Total common equity $ 154,202   $ 127,395   Total liabilities and equity $ 309,538   $ 252,042     The data has been collected in the Microsoft Excel file below. Download the spreadsheet and perform the required analysis…

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Minta Corporation, is a leading manufacturer of sports apparel, shoes, and equipment. The company’s 2020 financial statements contain the following information ($ in millions):   2020 2019 Balance sheets:     Accounts receivable, net $ 2,804 $ 4,327 Allowance for uncollectible accounts 215 33 Income statements:     Sales revenue $ 37,558   Statement of Cash Flows:     Amortization, impairment and other 399   Decrease in accounts receivable 1,240   Assume that all sales are made on a credit basis. Required: What is the amount of gross (total) accounts receivable due from customers at the end of 2020 and 2019? Assume that bad debt expense is included in “amortization, impairment and other,” such that the 2020 decrease in accounts receivable of $1,240 reflects only the difference between sales and collections. Prepare a T account that depicts how sales, collections, bad debt expense, and writeoffs of bad debts affect the balance of net accounts receivable with a…