Using the most recent annual report of the company you have chosen to study and that you have accessed online at the company's website, examine the balance sheet and accompanying notes of your company. Answer the following questions:
1. What percentage of total current assets is accounts receivable? Is this figure the total accounts receivable or net accounts receivable? Why or why not?
2. Find the disclosures about accounts receivable in the notes to the financial statements. What is the amount of the allowance account and what percentage of total accounts receivable is it?
3. Does the company have notes receivable on the balance sheet? If so, read the note to the financial statements on notes receivable. What do you learn from it about the business?
4. Compute receivables turnover and days' sales uncollected for the most recent year.