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Nike, Inc., is a leading manufacturer of sports apparel, shoes, and equipment. The companys 2015 financial statements contain the following information (in millions): 2015 2014

Nike, Inc., is a leading manufacturer of sports apparel, shoes, and equipment. The companys 2015 financial statements contain the following information (in millions):

2015 2014
Balance sheets:
Accounts receivable, net $ 3,358 $ 3,434
Income statements:
Sales revenue $ 30,601 $ 27,799

A note disclosed that the allowance for uncollectible accounts had a balance of $78 million and $78 million at the end of 2015 and 2014, respectively. Bad debt expense for 2015 was $20 million. Assume that all sales are made on a credit basis.

Required: 1. What is the amount of gross (total) accounts receivable due from customers at the end of 2015 and 2014?

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2. What is the amount of bad debt write-offs during 2015?

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3. Analyze changes in the gross accounts receivable account to calculate the amount of cash received from customers during 2015.

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4. Analyze changes in net accounts receivable to calculate the amount of cash received from customers during 2015. image text in transcribed

Please help me with #4.

2015 $ 3,436 2014 $ 3,512 Accounts receivable, gross Bad debt write- offs $ 20 Beg. bal. Sales Gross Accounts Receivable 3,512 30,601 20 30,657 3,436 Write-offs Collections End. bal. Net Accounts Receivable Beginning net accounts $ 3,434 receivable Sales 30,601 Write-offs (20) Cash collected from customers (30,657) Ending net accounts receivable $ 3,358

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