Avon Products, Inc., located in New York City, is one of the world’s largest producers of beauty and related products. The company’s consolidated balance sheets for the 2016 and 2015 fiscal years included the following ($ in thousands): 

A disclosure note accompanying the financial statements reported the following ($ in thousands): 

Assume that the company reported bad debt expense in 2016 of $191,000 and had products returned for credit totaling $187,000 (sales price). Net sales for 2016 were $5,578,800 ($ in thousands). 

Required: 

1. What is the amount of accounts receivable due from customers at the end of 2016 and 2015? 

2. What amount of accounts receivable did Avon write off during 2016? 

3. What is the amount of Avon’s gross sales for the 2016 fiscal year? 

4. Assuming that all sales are made on a credit basis, what is the amount of cash Avon collected from customers during the 2016 fiscal year?

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2016 2015 Current assets: Receivables, less allowances of $131,100 in 2016 and $86,700 in 2015 $458,900 $440,000