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Interpreting the Accounts receivable Footnote Hewlett-Packard Company (HPQ) reports the following in its 2004 10-K report. October 31 (in millions) 2005 2004 Accounts receivable,
Interpreting the Accounts receivable Footnote Hewlett-Packard Company (HPQ) reports the following in its 2004 10-K report. October 31 (in millions) 2005 2004 Accounts receivable, net $9,903 $10,226 HPQ footnotes to its 10-K provide the following additional information relating to its allowance for doubtful accounts. For the fiscal years ended October 31 (in millions) 2005 2004 2003 Allowance for doubtful accounts-accounts receivable Balance, beginning of period Increase in allowance from acquisition Addition of bad debts provision Deductions, net of recoveries Balance, end of period $ 286 $347 $410 9 17 (6) 29 (76) (64) (92) $ 227 $ 286 $ 347 (a) What is the gross amount of accounts receivables for HPQ in fiscal 2005 and 2004? ($ millions) 2005 Gross accounts receivable 2004 (b)What is the percentage of the allowance for doubtful accounts to gross accounts receivable for 2005 and 2004? (Round your answers to two decimal places.) ($ millions) 2005 2004 Percentage of uncollectible accounts to gross accounts receivable % % (c)What amount of bad debts expense did HPQ report each year 2003 through 2005? ($ millions) 2005 2004 2003 Bad debt expense $ $ $ Amount actually written off $ $ $
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