ST&C's financial statements for the 2015 and 2014 fiscal years contained the following information: Balance Sheets ($ in millions) 2015 2014 Current assets:     Accounts receivable, net of allowances for doubtful accounts of $724 and $654 $ 16,732 $ 14,547 Income Statements ($ in millions) 2015 2014 Revenues $ 148,801 $ 132,667 In addition, the statement of cash flows disclosed bad debt expense of $1,436 million in 2015 and $1,052 million in 2014. Required:

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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ST&C's financial statements for the 2015 and 2014 fiscal years contained the following information:

Balance Sheets ($ in millions) 2015 2014
Current assets:    
Accounts receivable, net of allowances for doubtful accounts of $724 and $654 $ 16,732 $ 14,547
Income Statements ($ in millions) 2015 2014
Revenues $ 148,801 $ 132,667

In addition, the statement of cash flows disclosed bad debt expense of $1,436 million in 2015 and $1,052 million in 2014.

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