6 P7-3 Bad debts; Nike, Inc. 2L07-5 Real World Financials Nike, Inc. is a leading manufacturer of sports apparel, shoes, and equipment. The company's 2017 financial statements contain the following information (S in millions): 2017 2016 Balance sheets: Accounts receivable, net $ 3,677 $ 3,241 Income statements: Sales revenue $34,350 $32,376 A note disclosed that the allowance for uncollectible accounts had a balance of S19 million Page 391 and $43 million at the end of 2017 and 2016, respectively. Bad debt expense for 2017 was $40 million 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 2017 and 2016? 2. What is the amount of bad debt write-offs during 2017? 3. Analyze changes in the gross accounts receivable account to calculate the amount of cash received from customers during 2017 4. Analyze changes in net accounts receivable to calculate the amount of cash received from