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Financial & Managerial Accounting
Found in: Page 342

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Short Answer

Refer to the financial statements and notes of Apple in Appendix A. In its presentation of accounts receivable on the balance sheet, how does it title accounts receivable? What does it report for its allowance as of September 26, 2015?


Apple reports allowances for doubtful debts equal to $82 in 2015.

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Step by Step Solution

Step-By-Step SolutionStep 1: Definition of Balance Sheet

The balance sheet is an organized statement reporting financial information of the business entity, such as assets, liability, and equity of the business entity.

Step 2: Representation of accounts receivables on the balance sheet

Accounts receivables are titled: “Accounts receivables less allowances.”

It reported allowances of $82 on September 26, 2015.

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