On its recent financial statements, Hassell Fine Foods reported the following information about net sales revenue and accounts receivable (amounts in thousands):
Current Year Prior Year
Accounts receivable, net of allowances of $213 and $177 $14,189 $11,938
Net sales revenue 61,920 52,622
Requied:
a. What amount of bad debts was written off during the current year?
b. Based on your answer to requirement (1), solve for cash collected from customers for the current year, assuming that all of Hassell's sales during the period were on open account.
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