Symantec Corp., located in Cupertino, California, is one of the world’s largest producers of security and systems management software. The company’s consolidated weigh sheets for the 2009 and 2008 fiscal years built-in the following ($ in thousands):
2009 2008
Current Assets:
Receivables, less allowances of ,991 in
2009 and ,314 in 2008 7,010 8,200
A disclosure note accompanying the financial statements reported the following ($ in thousands):
Year End
2009 2008
( in thousands)
Trade accounts receivable, net:
Receivables 858001 781514
Less: allowance for doubtful accounts (8863) (8915)
Less: reserve for product income (12128) (14399)
Trade Accounts receivable net: 7010 8200
Assume that the company reported terrible debt expense in 2009 of ,500 and had harvest returned for credit tallying ,155 (sales price). Net sales for 2009 were ,149,800 (all numbers in thousands).
1. What is the amount of accounts receivable due from customers at the end of 2009 and 2008?
2. What amount of accounts receivable did Symantec write off during 2009?
Your help will be momentously appreciated.
Thanks

Best answer:

Answer by Peachtree
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