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Describe the meaning of allowance for doubtful accounts

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Apple's balance sheet for the most recent fiscal year in Appendix A (page A-2) at the back of the book yields the following information related to accounts receivable:

Accounts Receivable $17,932,000,000

Allowance for Doubtful Accounts 58,000,000

Accounts Receivable, Net $17,874,000,000

Question 1: Provide several sentences in simple words to describe the meaning of each line item and related dollar amount shown above for Accounts Receivable, Allowance for Doubtful Accounts, and Accounts Receivable, Net. Be specific as to what each line item and related dollar amount represents.

Reference no: EM132564309

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