1. How much in accounts receivable did Target report on its balance sheet as of January 30, 2016? As of January 31, 2015?
2. Target accepts customer payments via Target brand credit cards. Refer to Note 9, Credit Card Receivables Transaction. How does Target account for these credit card sales?
3. Refer to Note 9. What are the advantages to Target in handling Target brand credit card transactions as it does? What are Targets responsibilities concerning these credit cards?
4. Compute Targets acid-test ratio as of January 30, 2016 and January 31, 2015. Did the ratio improve or deteriorate? For each date, if all the current liabilities came due immediately, could Target pay them?