Question
Avon Products, Inc located in New York is the one of the world's largest producers of beauty and related products. The company consolidated balances sheets
Avon Products, Inc located in New York is the one of the world's largest producers of beauty and related products. The company consolidated balances sheets for the 2016 and 2015 fiscal years included the following ($ in thousands)
Current asset
Receivables less allowances of $131,100 in 2016
2016 and $86,700 in 2015 458,900
2015 $440,000
A disclosure note accompanying the financial statement reported the following
Calculation of account receivable net year ended 2016
590000
less allowance for doubtful accounts (122,900)
less: reserve for products returns (8200)
trade account receivable net 458900
2015
receivables 526700
less reserve for product returns (77600)
less reserve for products returns (9100)
trade accounts receivable net 440000
assume that the company reported bad debts expense in 2016 of 191000 and had products returns for credit the total 187000 sales price net sales for 2016 5578800 in thousand
what is the amount of account a receivable due from customers at the end of 2016 and 2015
what amount of account account receivable did avon write off during 2016
what is the amount of avon gross sales for the 2016 fiscal year
assuming that all sales are made on a credit basis what is the amount of cash avon collected customers during the fiscal year
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