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Jordan, Inc., is a leading manufacturer of sports apparel, shoes, and equipment. The companys 2015...

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Accounting

Jordan, Inc., is a leading manufacturer of sports apparel, shoes, and equipment. The companys 2015 financial statements contain the following information (in millions): 2015 2014 Balance sheets: Accounts receivable, net $ 3,282 $ 3,297 Income statements: Sales revenue $ 25,778 $ 23,796 A note disclosed that the allowance for uncollectible accounts had a balance of $107 million and $94 million at the end of 2015 and 2014, respectively. Bad debt expense for 2015 was $35 million. Assume that all sales are made on a credit basis. Required:

1 What is the amount of gross (total) accounts receivable due from customers at the end of 2015 and 2014?

Accounts receivable, gross 2015______________ 2016__________

2. What is the amount of bad debt write-offs during 2015?

Bad debt write offs ___________

3. Analyze changes in the gross accounts receivable account to calculate the amount of cash received from customer during 2015.

Beg Bal
End Bal

4. Analyze changes in net accounts receivable to calculate the amount of cash received from customers during 2015.

Beginning net amounts receivable
Ending net amounts receivable

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