Minta Corporation is a leading manufacturer of sports apparel, shoes, and equipment. The companys financial statements contain the following information $ in millions:
Balance sheets:
Accounts receivable, net $ $
Income statements:
Sales revenue $ $
A note disclosed that the allowance for uncollectible accounts had a balance of $ million and $ million at the end of and respectively. Bad debt expense for was $ million. 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 and
What is the amount of bad debt writeoffs during
Analyze changes in the following Accounts Receivable gross Taccount to calculate the amount of cash received from customers during
Analyze changes in the following Accounts Receivable net Taccount to calculate the amount of cash received from customers during
