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10. Nike, Inc., is a leading manufacturer of sports apparel, shoes, and equipment. The companys 2013 financial statements contain the following information (in millions): 2013
10. Nike, Inc., is a leading manufacturer of sports apparel, shoes, and equipment. The companys 2013 financial statements contain the following information (in millions): 2013 2012 Balance Sheets: Accounts receivable, net $ 3,117 $ 3,132 Income statements: Sales revenue $25,313 $23,331 A note disclosed that the allowance for uncollectible accounts had a balance of $104 million and $91 million at the end of 2013 and 2012, respectively. Bad debt expense for 2013 was $32 million. Assume that all sales are made on a credit basis. analyze the changes in the accounts receivable account to calculate the amount of cash received from customers during 2013
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