Classifications of receivables OBJ. 1 Boeing is one of the world’s major aerospace firms with operations involving commercial aircraft, military aircraft, missiles, satellite systems, and information and battle management systems. As of a recent year, Boeing had $2,788 million of receivables involving U.S. government contracts and $903 million of receivables involving commercial aircraft customers, such as Delta Air Lines and United Airlines.

Should Boeing report these receivables separately in the financial statements or combine them into one overall accounts receivable amount? Explain.