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Revenue ($ millions) 52 weeks ended August 30, 2009 52 weeks ended August 31, 2008 52 weeks ended September 2, 2007 Net Sales $69,889 $70,977
Revenue ($ millions) | 52 weeks ended August 30, 2009 | 52 weeks ended August 31, 2008 | 52 weeks ended September 2, 2007 |
---|---|---|---|
Net Sales | $69,889 | $70,977 | $63,088 |
Membership fees | 1,533 | 1,506 | 1,313 |
Total revenue | $ 71,422 | $ 72,483 | $ 64,401 |
Current Liabilities ($ millions) | August 30, 2009 | August 31, 2008 |
---|---|---|
Short-term borrowings | $ 16 | $ 134 |
Accounts payable | 5,450 | 5,225 |
Accrued salaries and benefits | 1,418 | 1,321 |
Accrued sales and other taxes | 302 | 283 |
Deferred membership fees | 824 | 748 |
Current potion of long-term debt | 80 | 6 |
Other current liabilities | 1,191 | 1,157 |
Total revenue | $ 9,281 | $ 8,874 |
(b) Use the balance sheet information on Costco's Deferred Membership Fees liability account and its income statement revenues related to Membership Fees earned during 2009 to compute the cash that Costco received during 2009 for membership fees. Total cash received (in $ millions) = $Answer PLEASE EXPLAIN THE ANSWER TO B
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