Now suppose that Net revenue reported by XYZ for fiscal year 2009 is $60,000 million
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- Now suppose that Net revenue reported by XYZ for fiscal year 2009 is $60,000 million. This net revenue has been reported net of bad debt expense. XYZ also experienced an increase of $2,000 million in Gross accounts receivables during fiscal year 2009. How much cash (in millions) was collected by XYZ from its customer during fiscal year 2009?
(Assume that XYZ made all sales on credit. Further assume that accounts receivables are only affected by sales to customers, collections from customers, bad debt expense, write-offs and reinstatements related to customer accounts; Accounts receivables are not affected by any non-operating items.)
Beg AFDA value 153
End AFDA value 451
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