Question: am i right? E8-13 Using Financial Statement Disclosures to Infer Write-Offs and Bad Debt Expense and to Calculate the Receivables Turnover Ratio (LO8-2, LO8-4) Microsoft


E8-13 Using Financial Statement Disclosures to Infer Write-Offs and Bad Debt Expense and to Calculate the Receivables Turnover Ratio (LO8-2, LO8-4) Microsoft Corporation develops, produces and markets a wide range of computer software, including the Windows operating system Assume Microsoft reported the following information about Net Sales Revenue and Accounts Receivable en millions Tune 10, we 2020 Accounts receivable, met of Allowances of $129 and 31) 517,144 51,236 2019 513, 14,90 Assume that according to its annual report, Microson recorded Bad Debt Expense or 5138 million and did not recover any previously written of accounts during the year ended June 30, 2020 Required: 1. What amount of accounts receivable was women off during the year that ended June 30, 2020? (Enter your answer in milions.no need to add the 6 zeros as your numbers are already in millions.) Recoratiewe 2. What was Microsoft's receivables turnover ratio in the current year? (Round your answer to 1 decimal place.) are already in millions.) enter your answer in millions.no Accounts receivable written of 2. What was Microsoft's receivables turnover ratio in the current year? (Round your answer to 1 decimal place.) Receivables tumover ratio times 3. This part of the question is not part of your Connect assignment E8-13 Using Financial Statement Disclosures to Infer Write-Offs and Bad Debt Expense and to Calculate the Receivables Turnover Ratio (LO8-2, LO8-4) Microsoft Corporation develops, produces, and markets a wide range of computer software, including the Windows operating system. Assume Microsoft reported the following Information about Net Sales Revenue and Accounts Receivable in millions) Accounts Receivable, Net of Allowances of $189 and 5139 June 30, 2020 $17,144 51,236 June 30 2019 $13,900 16,913 Met Revenues Assume that, according to its annual report. Microsoft recorded Bad Debt Expense of $138 million and did not recover ony previously written off accounts during the year ended June 30, 2020. Required: 1. What amount of accounts receivable was written off during the year that ended June 30, 2020? (Enter your answer in millions.no need to add the 5 zeros as your numbers are already in millons.) Accounts receivable biten om 88 2. What was Microsoft's receivables turnover ratio in the current year? (Round your answer to 1 decimal place.) Receivables turnoverato 33 times Assume that, according to its annual report, Microsoft recorded Bad Debt Expense of $138 million and did not recover any previously written off accounts during the year ended June 30, 2020, Required: 1. What amount of accounts receivable was written off during the year that ended June 30, 20202 (Enter your answer in millions.no need to add the 6 zeros as your numbers are already in millions.) Athenable 5 88 2. What was Microsoft's receivables turnover ratio in the current year? (Round your answer to 1 decimal place) Heewable moves 33 times 3. This part of the question is not part of your connect assignment
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
