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I need help with this question Use Starbucks Corporation's financial statement information to answer the following questions. a. Provide the following account balances for Starbucks
I need help with this question
Use Starbucks Corporation's financial statement information to answer the following questions. a. Provide the following account balances for Starbucks (4 points): September 27, 2020 September 29, 2019 Accounts Receivable (gross) Allowance for Doubtful Accounts Accounts Receivable, net b. Which of the above numbers represents the total amount Starbucks is owed by customers as of September 27, 2020? (1 point) c. Which of the above numbers represents the amount that Starbucks believes it will not collect from its customers as of September 27, 2020? (1 point) d. Which of the above numbers represents the amount that Starbucks believes it will collect from its customers as of September 27, 2020? (1 point) e. Provide the journal entry (both accounts and amounts) that Starbucks must have made to record its estimate of Bad Debt Expense in fiscal year 2020. (3 points) f. Provide the journal entry (both accounts and amounts) that Starbucks must have made to record Accounts Receivable writeoffs in fiscal year 2020. (3 points) Page Break Starbucks Corporation's Financial Statements (partial) COFFE As of Sept. 29, 2019 $ 2,686,6 70.5 Consolidated Balance Sheets In millions of dollars As of ASSETS Sept. 27, 2020 Cash and cash equivalents $_4.350.9 Short-term investments 281.2 Accounts receivable, net of the allowance of $27.1 million 883.4 as of 9/27/2020 and of $6.7 million as of 9/29/2019 Inventories 1,551.4 Prepaid expenses and other current assets 739.5 Total current assets $_7.806.4 879.2 1,529.4 488.2 $ 5,653.2Step by Step Solution
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