Judgement Financial Reporting The Procter 7 Gamble Company P&G the Financial statements of P&G can be accessed at www.wiley.com/college kieso. Refer to P&G's financial statements and the accompanying notes to answer the following questions. (a) What criteria does P&G use to classify "cash and cash equivalents" as reported in its balance sheet? (b) As of June 30,2007, what balances did P&G have in cash and cash equivalents? What were the major uses of cash during the year? (c) P&G reports no allowance for doubtful accounts, suggesting that bad debt expenses is not material for this company. Is it reasonable that a company like P&G would not have material bad debt expense? explainG
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