Find Target's financial statements and disclosure notes for the year ended February $3,2018($which is $2017$ fiscal year$)$ at the Investor Relations link at the company's website $($www$.$target.comLinks to an external site.$).$

Required:

What was the amount of revenue Target reported for $2017$ fiscal year?

Disclosure Note $2$ indicates that Target generally records revenue in retail stores at the point of sale. Does that suggest that Target generally records revenue at a point in time or over a period of time? Explain.

Disclosure Note $2$ indicates that customers $($guests$)$ can return some merchandise within $90$ days of purchase and can return other merchandise within a year of purchase. How is Target$$s revenue and net income affected by returns, given that it does not know at the time a sale is made which items will be returned?

Disclosure Note $2$ indicates that $$Commissions earned on sales generated by leased departments are included within sales and were $$44$ million... in $2017.$ Do you think it likely that Target is accounting for those sales a as principal or an agent? Explain.

Disclosure Note $2$ discusses Target$$s accounting for gift card sales. Does Target recognize revenue when it sells a gift card to a customer? If not, when does it recognize revenue? Explain.

Critical Accounting Estimates section discusses how Target accounts for consideration received from vendors, which they call $$vendor income.$$ Does that consideration produce revenue for Target? Does that consideration produce revenue for Target$$s vendors? Explain.

What is Target$$s policy for designating investments as cash equivalent?

What is Target$$s balance of cash and cash equivalent for $2017$ fiscal year?

Does Target have accounts receivable? Speculate as to why it has the balance that it has. $($Hint: See Disclosure Notes $9,11$ and $13).$