o's 2017 financial P7-3 Bad debts; Nike, Nike, Inc., is a leading manufacturer of sports apparel, shoes, and equipment. The company's 2017 fi. statements contain the following information ($ in millions): 2017 2016 Inc. 107-5 Real World Financials $ 3,677 $ 3,241 $ 3, Balance sheets: Accounts receivable, net Income statements: Sales revenue $34,350 $32,376 CHAPTER 7 Cash and Receivables that the allowance for uncollectible accounts had a balance of $19 million and $43 m f 2017 and 2016, respectively. Bad debt exp ad debt expense for 2017 was $40 million. Assume that all sales are 391 A note disclosed that the allo at the end of 2017 and made on a credit basis. connect Required: mount of gross (total) accounts receivable due from customers at the end of 2017 and 2016! is the amount of bad debt write-offs during 20172 wance method multiplying ng of accounts gly. edit balance of whanges in the gross accounts receivable account to calculate the amount of cash received from 1. What is the amount of gross 2. What is the amount of bad d 3. Analyze changes in the gros customers during 2017. 4. Analyze changes in net accou hanges in net accounts receivable to calculate the amount of cash received from customers during 2017. o's 2017 financial P7-3 Bad debts; Nike, Nike, Inc., is a leading manufacturer of sports apparel, shoes, and equipment. The company's 2017 fi. statements contain the following information ($ in millions): 2017 2016 Inc. 107-5 Real World Financials $ 3,677 $ 3,241 $ 3, Balance sheets: Accounts receivable, net Income statements: Sales revenue $34,350 $32,376 CHAPTER 7 Cash and Receivables that the allowance for uncollectible accounts had a balance of $19 million and $43 m f 2017 and 2016, respectively. Bad debt exp ad debt expense for 2017 was $40 million. Assume that all sales are 391 A note disclosed that the allo at the end of 2017 and made on a credit basis. connect Required: mount of gross (total) accounts receivable due from customers at the end of 2017 and 2016! is the amount of bad debt write-offs during 20172 wance method multiplying ng of accounts gly. edit balance of whanges in the gross accounts receivable account to calculate the amount of cash received from 1. What is the amount of gross 2. What is the amount of bad d 3. Analyze changes in the gros customers during 2017. 4. Analyze changes in net accou hanges in net accounts receivable to calculate the amount of cash received from customers during 2017
