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Cirrus Logic, Inc., is a leading designer and manufacturer of advanced integrated circuits that integrate algorithms and mixed-signal processing for mass storage, communications, consumer electronics,
Cirrus Logic, Inc., is a leading designer and manufacturer of advanced integrated circuits that integrate algorithms and mixed-signal processing for mass storage, communications, consumer electronics, and industrial markets. The company's 2011 financial statements contained the following information: In addition, the statement of cash flows disclosed that accounts receivable increased during 2011 by $15,835 (in thousands). This indicates that cash received from customers was $15,835 (in thousands) less than accrual sales revenue. Also, a disclosure note reported that the allowance for uncollectible accounts (in thousands) was $491 and $593 at the end of 2011 and 2010, respectively What is the amount of accounts receivable due from customers at the end of 2011 and 2010? Assuming that all sales are made on a credit basis, determine the amount of bad debt expense for 2011 and the amount of actual bad debt write-offs made in 2011
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