Refer to the Cortland
Cortland​, ​Inc., balance sheet below.

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At September

September ​24, 2016

2016​, how much in total did customers owe Cortland

Cortland​? How much did Cortland

Cortland expect to collect and not to collect on September

September ​24, 2016

2016​? What was the net realizable value of Cortland

Cortland​, ​Inc.’s receivables on September

September ​24, 2016

2016​?

Millions

Customers owed Cortland, Inc.

. . . . . . . . . . . . . . . . . . . . . . . . .

Cortland, Inc. expected not to collect

. . . . . . . . . . . . . . . . . .

Cortland, Inc. expected to collect—net realizable value

. . . . .

Enter any number in the edit fields and then continue to the next question.

Data Table

Cortland, Inc.

Balance Sheet (Excerpt, Adapted)

(In Millions of $)

Sep. 24, 2016

Sep. 26, 2015

Current assets:

Cash and cash equivalents

$

14,054

$

14,616

Short-term marketable securities

40,889

23,870

Accounts receivable, less allowance of $74 and $83, respectively

18,042

17,571

Inventories

2,141

2,398

Vendor non-trade receivables

13,202

13,445

Other current assets

8,214

15,840

Total current assets

100,198

96,516

How is the balance calculated for what is owed by the customer? what type of formula is used in this instance? How can it be calculated what is not collected and the realizable value.

 

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