Problem 7.3 (Static) Bad debts; Nike, Incorporated [L.07.5] Nike, incorporated, is a leading manufacturer of sports apparel, shoes, and equipment. The company's 2020 financial statements cantain the following information (\$ in millions) Assume that all sales are made on a credit basis Required: 1. What is the amount of gross (total) accounts receivable duc from customers at the end of 2020 and 2019 ? 2. Assume that bad debt expense is included in "amortization, imparment and other, such that the 2020 decrease in accounts recenable of $1,239 reflects only the difference betweer sales and collections. Prepare a T account that depicts how sales, collections, bad debt expense, and writeoffs of bad debts affect the balance of net accounts receivable with a debit, a credit or not at all, and estimate Nike's 2020 bad debt expense. 3. Prepare a T account that depicts how bad debt expense and witeoffs of bad debts affect the balance of the allowance for uncollectible accounts with a debit, credit or not at all, and estimate the amount of bad debts witten off by Nike during 2020. 4. Aralyze changes in the gross accounts receivable account to calculate the amount of cash received from customers during 2020 5. Analyze changes in the following Accounts Receivable (net) T-account to calculate the amount of cash received from custorners during 2020