Suppose the amounts presented here are basic financial information (in millions)

from the 2014 annual reports of Nike and adidas.

Nike adidas Sales revenue $19,176.1 $10,381 Allowance for doubtful accounts, beginning 78.4 119 Allowance for doubtful accounts, ending 110.8 124 Accounts receivable balance (gross), beginning 2,873.7 1,743 Accounts receivable balance (gross), ending 2,994.7 1,553 Instructions Calculate the accounts receivable turnover and average collection period for both companies.

Comment on the difference in their collection experiences.

AppendixLO1