Symantec Corp, located in Cupertino, California, is one of the world\'s largest

Question

Symantec Corp, located in Cupertino, California, is one of the world's largest producers of security and systems management software. The company's consolidated balance sheets for the 2009 and 2008 fiscal years included the following (S in thousands): Recelvables less allowances of 522 076 A disclosure note accompanying the financial statements reported the following (S in thousands): 80 486 $ 8329 13,10 (15 39 838 410 5 Assume that the company reported bad debt expense in 2009 of $2,200 and had products returned for credit totaling $3,260 (sales price). Net sales for 2009 were $6,184,800 (all numbers in thousands) Required: . What is the amount of accounts receivable due from customers at the end of 2009 and 2008? (Enter your answers in thousands) What amount of accounts receivable did Symantec write off during 2009? (Enter your answer in thousands.) What is the amount of Symantec's gross sales for the 2009 fiscal year? (Enter your answer in thousands.) 4 Assuming that all sales are made on a credit basis, what is the amount of cash Symantec collected from customers during the 2009 fiscal year? (Enter your answer in thousands.

Explanation / Answer

Tha amount of accounts receivable due from customers is account receivable before any allowance and reserve

2009- 660486

2008- 783299

2) accounts receivable weitten off is 2200

3) the gross sales in 2009 is 6184800+3260= 6188060

4) the amount of cash collected in year 2009 is 783299- 660486 + 6184800 - 2200= 6305413

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