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The following information was taken from the 2009 annual report of Emerson Electric Co., a leader in the network power

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The following information was taken from the 2009 annual report of Emerson Electric Co., a leader in the network power sector (dollars in millions):

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(a) Compute total accounts receivable as of the end of 2009 and 2008, and compute the bed debt allowance as a percentage of total accounts receivable. Did the percentage increase or decrease?(b) The bad debt expense reported on Emerson's 2009 income statement did not equal $93. Explain why.

Accounts Receivable
Accounts receivables are debts owed to your company, usually from sales on credit. Accounts receivable is business asset, the sum of the money owed to you by customers who haven’t paid.The standard procedure in business-to-business sales is that...
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2009 2008 Balance Sheet: Receivables, less allowance for uncollectibles of 593 and $90, respectively S3,623 S4,618

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Financial Accounting in an Economic Context

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Question Posted: November 18, 2011 03:59:04
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