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Nike, Inc., s a leading manufacturer of sports apparel, shoes, and statements contain the following information (S in millions): equipment. The company's 2015 financial 2015
Nike, Inc., s a leading manufacturer of sports apparel, shoes, and statements contain the following information (S in millions): equipment. The company's 2015 financial 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? 2. What is the amount of bad debt write-offs during 2015? . Analyze changes in the gross accounts receivable account to calculate the amount of cash received from cus- tomers during 2015. . Analyze changes in net accounts receivable to calculate the amount of cash received from customers during 2015
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