The 2016 financial statements of leggett & platt, inc. include the following information in a footnote. (in millions) 2016 2015 allowance for doubtful accounts $7.2 $9.3 total accounts and other receivables, net $486.6 $520.2 what are the company’s current gross accounts and other receivables at the end of 2016? select one: a. $486.6 million b. $479.4 million c. $452 million d. $493.8 million e. none of the above

Option (D) is correct.

Explanation:

Given that,

In 2016,

Allowance for doubtful accounts = $7.2 million

Total accounts and other receivables, net = $486.6 million

In 2015,

Allowance for doubtful accounts = $9.3 million

Total accounts and other receivables, net = $520.2 million

Therefore,

Company’s current gross accounts and other receivables at the end of 2016:

=  net receivable(2016) + allowance for doubtful(2016)

= $486.6 + $7.2

= $493.8

answer; depth;

a

b

b

a

c

b

d

d

none of these are correct, as they are all sources of american law

a