Question

Cirrus Logic, Inc., is a leading designer and manufacturer of advanced integrated circuits that integrate algorithms and mixed-signal processing for mass storage, communications, consumer electronics, and industrial markets. The company's 2009 financial statements contained the following information:


In addition, the statement of cash flows disclosed that accounts receivable decreased during 2009 by $9,346 (in thousands). This indicates that cash received from customers was $9,346 (in thousands) more than accrual sales revenue. Also, a disclosure note reported that the allowance for uncollectible accounts (in thousands) was $451 and $404 at the end of 2009 and 2008, respectively.

Required:
1. What is the amount of accounts receivable due from customers at the end of 2009 and 2008?
2. Assuming that all sales are made on a credit basis, determine the amount of bad debt expense for 2009 and the amount of actual bad debt write-offs made in2009.


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  • CreatedJuly 02, 2013
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