Problem 3 (13 points) Use PVH Corp.'s financial statement information to answer the following questions. a. Provide the following account balances for PVH (4 points): February 4, 2018 January 29, 2017 Accounts Receivable (gross) Allowance for Doubtful Accounts Accounts Receivable, net b. Which of the above numbers represents the amount of its February 2, 2020 Accounts Receivable balance that PVH expects to collect in the subsequent year(s)? (1 point) c. Which of the above numbers represents that amount that PVH believes it will not collect from its customers as of February 2, 2020? (1 point) d. Which of the above numbers represents the total amount PVH is owed by customers as of February 2, 2020? (1 point) e. Provide the journal entry (both accounts and amounts) that PVH must have made to record its estimate of Bad Debt Expense in fiscal year 2019. (3 points) f. Provide the journal entry (both accounts and amounts) that PVH must have made to record Accounts Receivable writeoffs in fiscal year 2019. (3 points) PVH Corp. Financial Statements (partial) PVH Consolidated Balance Sheets In millions of dollars As of Feb. 2, 2020 $ 503 As of Feb. 3, 2019 $_452 741 778 ASSETS Cash and cash equivalents Accounts receivable, net of the allowance of $21 million as of 2/2/2020 and of $22 million as of 2/3/2019 Inventories Prepaid expenses and other current assets Total current assets 1,616 534 1,732 277 $ 3,394 $ 3.239 Notes to Consolidated Financial Statements (partial) Footnote 1. Summary Of Significant Accounting Policies 1.1. Description of Business PVH Corp. constitutes a global apparel company with a brand portfolio consisting of nationally and internationally recognized trademarks, including TOMMY HILFIGER, CALVIN KLEIN, Van Heusen, IZOD, ARROW, Warner's, Olga, True&Co, and Geoffrey Beene, which are owned, as well as various other owned, licensed and, to a lesser extent, private label brands. The Company designs and markets branded dress shirts, neckwear, sportswear (casual apparel), jeanswear, performance apparel, intimate apparel, underwear, swimwear, swim products, handbags, accessories, footwear and other related products and licenses its owned brands globally over a broad array of product categories and for use in numerous discrete jurisdictions. 1.4. Fiscal Year The Company uses a 52-53 week fiscal year ending on the Sunday closest to February 1. Results for fiscal years 2019, 2018 and 2017 represent the 52 weeks ended February 2, 2020, 52 weeks ended February 3, 2019 and 53 weeks ended February 4, 2018, respectively. 1.5. Accounts Receivable An allowance for doubtful accounts is determined through an analysis of the aging of accounts receivable and assessments of collectibility, based on historic trends, the financial condition of the Company's customers and an evaluation of economic conditions. The Company writes off uncollectible trade receivables once collection efforts have been exhausted and third parties confirm the balance is not recoverable. The Company recorded Bad Debt Expense of $6 million in fiscal year 2019 and $14 million in fiscal year 2018. The Company wrote off $7 million of accounts receivable in fiscal year 2019 and $13 million of accounts receivable in fiscal year 2018