Question: Problem 3 (13 points) Use Walmart, Inc.'s financial statement information to answer the following questions. a. Provide the following account balances for Walmart (4 points):


Problem 3 (13 points) Use Walmart, Inc.'s financial statement information to answer the following questions. a. Provide the following account balances for Walmart (4 points): January 31, 2020 January 31, 2019 Accounts Receivable (gross) Allowance for Doubtful Accounts Accounts Receivable, net b. Which of the above numbers represents the total amount Walmart is owed by customers as of January 31, 2020? (1 point) c. Which of the above numbers represents the amount that Walmart believes it will not collect from its customers as of January 31, 2020? (1 point) d. Which of the above numbers represents the amount that Walmart believes it will collect from its customers as of January 31, 2020? (1 point) e. Provide the journal entry (both accounts and amounts) that Walmart must have made to record its estimate of Bad Debt Expense in fiscal year 2020. (3 points) f. Provide the journal entry (both accounts and amounts) that Walmart must have made to record Accounts Receivable write-offs in fiscal year 2020. (3 points) Walmart, Inc. Financial Statements (partial) Walmart Consolidated Balance Sheets In millions of dollars As of Jan 31, 2020 $ 9,465 As of Jan 31, 2019 $ 7,722 6,284 6,283 ASSETS Cash and cash equivalents Accounts receivable, net of the allowance of $140 million as of 1/31/2020 and of $126 million as of 1/31/2019 Inventories Prepaid expenses and other current assets Total current assets 44,435 1,622 $ 61,806 44,269 3,623 $ 61,897
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