Please do not give solution in image format ? And explain proper steps by Step. Minta Corporation, is a leading manufacturer of sports apparel, shoes, and equipment. The company's 2020 financial statementscontain the following information ($ in millions):hcesBalance sheets:Accounts receivable, netAllowance for uncollectible accountsIncome statements:Sales revenueStatement of Cash Flows:Amortization, impairment and otherDecrease in accounts receivable.Assume that all sales are made on a credit basis.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 accountsreceivable of $1,248 reflects only the difference between sales and collections. Prepare a T account that depicts how sales,collections, bad debt expense, and writeoffs of bad debts affect the balance of net accounts receivable with a debit, a credit ornot at all, and estimate Minta's 2020 bad debt expense.Show Transcribed TextnReferences3. Prepare a T account that depicts how bad debt expense and writeoffs of bad debts affect the balance of the allowance foruncollectible accounts with a debit, credit or not at all, and estimate the amount of bad debts written off by Minta during 2020.4. Analyze changes in the gross accounts receivable account to calculate the amount of cash received from customers during2020.5. Analyze changes in net accounts receivable to calculate the amount of cash received from customers during 2020.Required 1 Required 2Complete this question by entering your answers in the tabs below.Accounts receivable, gross2020$ 3,244223$ 38,7984071,248Required 3 Required 4 Required 5What is the amount of gross (total) accounts receivable due from customers at the end of 2020 and 2019?Note: Enter your answers in millions.Show Transcribed TextRequired 1Beginning Balance2019$ 4,76757Ending Balance2020c2019Required 2 Required 3 Required 4Assume that bad debt expense is included in "amortization, impairment and other," such that the 2020 decrease in accounts.receivable of $1,248 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 ornot at all, and estimate Minta's 2020 bad debt expense.Note: Enter your answers in millions.Accounts Receivable (net)DebitCreditĆRequired 5Show less A Required 1Required 2 Required 3Beginning BalanceEnding BalancePrepare a T account that depicts how bad debt expense and writeoffs of bad debts affect the balance of the allowance foruncollectible accounts with a debit, credit or not at all, and estimate the amount of bad debts written off by Minta during.2020.Note: Enter your answers in millions.Show Transcribed TextBeginning BalanceEnding BalanceAllowance for Uncollectible AccountsDebitRequired 4Show Transcribed TextBeginning BalanceRequired 1 Required 2 Required 3Analyze changes in the gross accounts receivable account to calculate the amount of cash received from customers during2020.Note: Enter your answers in millions.Ending BalanceCreditAccounts Receivable (gross)DebitCreditĴRequired 5Required 4 Required 5Show less ARequired 5

The accounts receivable is a balance sheet item that is recorded under the head "current assets". It…

Minta Corporation, is a leading manufacturer of sports apparel, shoes, and equipment. The company's 2020 financial statements contain the following information ($ in millions): hces 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. Show Transcribed Text References 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 $1,248 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. 4. Analyze changes in the gross accounts receivable account to calculate the amount of cash received from customers during 2020. 5. Analyze changes in net accounts receivable to calculate the amount of cash received from customers during 2020. Required 1 Complete this question by entering your answers in the tabs below. Required 2 Accounts receivable, gross 2020 $ 3,244 223 Show Transcribed Text $38,798 Beginning Balance Required 3 Required 4 What is the amount of gross (total) accounts receivable due from customers at the end of 2020 and 2019? Note: Enter your answers in millions. Ending Balance 407 1,248 2020 2019 $ 4,767 57 2019 Accounts Receivable (net) Debit Credit S Required 1 Required 2 Required 3 Required 4 Required 5 Assume that bad debt expense is included in "amortization, impairment and other," such that the 2020 decrease in accounts receivable of $1,248 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. Note: Enter your answers in millions. Required S C Show less A