Question
M8-13 Reporting Accounts and Notes Receivable in a Classified Balance Sheet [LO 8-2, LO 8-3] Adobe Systems Incorporated reported the following accounts and amounts (in
M8-13 Reporting Accounts and Notes Receivable in a Classified Balance Sheet [LO 8-2, LO 8-3] Adobe Systems Incorporated reported the following accounts and amounts (in millions) in its financial statements for the year ended December 2, 2016.
Accounts Payable $ 820
Accounts Receivable 840
Accumulated Amortization 480
Accumulated Depreciation 1,110
Allowance for Doubtful Accounts 10
Cash and Cash Equivalents 1,010
Common Stock 450
Deferred Revenue 1,950
Equipment 7,330
Income Taxes Payable 40
Notes Payable (long-term) 2,470
Notes Receivable (long-term) 230
Prepaid Rent 250
Retained Earnings 6,970
Service Revenue 470
Short-Term Investments 3,750
Software 890
Prepare a classified balance sheet. The Allowance for Doubtful Accounts relates entirely to Accounts Receivable. (Enter your answers in millions (i.e., 10,000,000 should be entered as 10).)
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