> Tying It All Together Case 8-1 Before you begin this assignment, review the Tying It All Together feature in the chapter. It will also be helpful if you review Sears Holdings Corporation's 2015 annual report (https://www.sec.gov/Archivesledgar/data/1310067/000131006716000059/shld201510k.htm) Sears Holdings Corporation is the parent company of Kmart Holding Corporation and Sears, Roebuck and Co. The corporation operates more than 1,600 retail stores in the United States and offers online shopping through both sears.com and kmart.com. Requirements 1. On which financial statement would you find Accounts Receivable? 2. What was the amount of Accounts Receivable as of January 30, 2016? As of January 31, 2015? 3. Review the notes to the financial statements and read the note labeled Allowance for Doubtful Accounts in Note 1-Summary of Signif- cant Accounting Policies. What was the amount of Allowance for Doubtful Accounts as of January 30, 2016? As of January 31, 2015? Using the information from requirements 2 and 3, determine the gross amount of Accounts Receivable as of January 30, 2016. As of January 31, 2015. 4. 5. Find Schedule I-Valuation and Qualifying Accounts indluded in the notes to the financial statements. Draw a Faccount that details the changes in the Allowance for Doubtful Accounts account for 2015. What would additions charged to costs and expenses repre- sent? What would deductions from the account represent? Decision Cases Decision Case 8-1 Weddings on Demand sells on account and manages its own receivables. Average experience for the past three years has been as follows: Sales Cost of Goods Sold Bad Debts Expense Other Expenses 350,000 210,000 4,000 61,000 > Tying It All Together Case 8-1 Before you begin this assignment, review the Tying It All Together feature in the chapter. It will also be helpful if you review Sears Holdings Corporation's 2015 annual report (https://www.sec.gov/Archivesledgar/data/1310067/000131006716000059/shld201510k.htm) Sears Holdings Corporation is the parent company of Kmart Holding Corporation and Sears, Roebuck and Co. The corporation operates more than 1,600 retail stores in the United States and offers online shopping through both sears.com and kmart.com. Requirements 1. On which financial statement would you find Accounts Receivable? 2. What was the amount of Accounts Receivable as of January 30, 2016? As of January 31, 2015? 3. Review the notes to the financial statements and read the note labeled Allowance for Doubtful Accounts in Note 1-Summary of Signif- cant Accounting Policies. What was the amount of Allowance for Doubtful Accounts as of January 30, 2016? As of January 31, 2015? Using the information from requirements 2 and 3, determine the gross amount of Accounts Receivable as of January 30, 2016. As of January 31, 2015. 4. 5. Find Schedule I-Valuation and Qualifying Accounts indluded in the notes to the financial statements. Draw a Faccount that details the changes in the Allowance for Doubtful Accounts account for 2015. What would additions charged to costs and expenses repre- sent? What would deductions from the account represent? Decision Cases Decision Case 8-1 Weddings on Demand sells on account and manages its own receivables. Average experience for the past three years has been as follows: Sales Cost of Goods Sold Bad Debts Expense Other Expenses 350,000 210,000 4,000 61,000