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Procter & Gamble is a multinational corporation that manufactures and markets many household products. Last year, sales for the company were $ 8 3 ,

Procter & Gamble is a multinational corporation that manufactures and markets many household products. Last year, sales for the company were $83,062(all amounts in millions). The annual report did not disclose the amount of credit sales, so we will assume that 90 percent of sales were on credit. The average gross profit on sales was 49 percent. Additional account balances were:
\table[[,Ending,Beginning],[Accounts receivable (net),$6,386,$6,508
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