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Question 5 Suppose the amounts presented here are basic financial information (in millions) from the 2017 annual reports of Nike and adidas. Nike adidas Sales
Question 5 Suppose the amounts presented here are basic financial information (in millions) from the 2017 annual reports of Nike and adidas. Nike adidas Sales revenue $18,612 $10,045 124 Allowance for doubtful accounts, beginning 80.7 Allowance for doubtful accounts, ending 112 122 Accounts receivable balance (gross), beginning 3,098 1,632 Accounts receivable balance (gross), ending 3,221.0 1,451 Calculate the accounts receivable turnover for both companies. (Round answers to 1 decimalplace, e.g. 12.5.) Nike adidas Accounts receivable turnover times times LINK TO TEXT Calculate the average collection period for both companies. (Round answers to 1 decimal place, e.g. 12.5. Use 365 days for calculation.) Nike adidas Average collection period days days LINK TO TEXT
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