Examine footnote 8 to foot lockers consolidated financial, Ask an Expert

Accounting

Examine Footnote 8 to Foot Locker's consolidated financial statements (Other Current Assets). Notice that included in this total is "net receivables." Ending net receivables for 2006 (beginning balance of 2007) were $59 million. Ending net receivables for 2007 were $50 million. Which of these amounts did Foot Locker, Inc. earn in 2006? Which amount is included in Foot Locker, Inc.'s 2007 net income?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9400514

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