Question
Complete the requirements for each of the following independent cases: Case A. Dr Pepper Snapple Group, Inc., is a leading integrated brand owner, bottler, and
Complete the requirements for each of the following independent cases:
Case A. Dr Pepper Snapple Group, Inc., is a leading integrated brand owner, bottler, and distributor of nonalcoholic beverages in the United States, Canada, and Mexico. Key brands include Dr. Pepper, Snapple, 7-UP, Motts juices, A&W root beer, Canada Dry ginger ale, Schweppes ginger ale, and Hawaiian Punch, among others.
The following represents selected data from recent financial statements of Dr Pepper Snapple Group:
DR PEPPER SNAPPLE GROUP, INC. Consolidated Balance Sheets (partial) | ||||||||||
(in millions) | December 31, 2014 | December 31, 2013 | ||||||||
Assets | ||||||||||
Current assets: | ||||||||||
Cash and cash equivalents | $ | 218 | $ | 58 | ||||||
Accounts receivable (net of allowances of $19 and $26, respectively) | 523 | 540 | ||||||||
|
Consolidated Statements of Income (partial) | ||||||||
For the Year Ended December 31 | ||||||||
(In millions) | 2014 | 2013 | 2012 | |||||
Net sales | $ | 5,660 | $ | 5,536 | $ | 5,534 | ||
Net income | $ | 710 | $ | 645 | $ | 650 | ||
|
The company also reported bad debt expense of $7 million in 2014, $13 million in 2013, and $9 million in 2012.
1. Record the companys write-offs of uncollectible accounts for 2014. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in millions (i.e., 10,000,000 should be entered as 10).)
2. Assuming all sales were on credit, what amount of cash did Dr Pepper Snapple Group collect from customers in 2014? (Enter your answers in millions.)
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