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Suppose the amounts presented here are basic financial information (in millions) from the 2020 annual reports of Nike and adidas . Nike adidas Sales revenue
Suppose the amounts presented here are basic financial information (in millions) from the 2020 annual reports of Nike and adidas.
Nike | adidas | |||
Sales revenue | $19,795.3 | $10,675 | ||
Allowance for doubtful accounts, beginning | 77.2 | 112 | ||
Allowance for doubtful accounts, ending | 104.1 | 134 | ||
Accounts receivable balance (gross), beginning | 2,884.3 | 1,740 | ||
Accounts receivable balance (gross), ending | 2,952.8 | 1,556 |
(a1)
Calculate the accounts receivable turnover for both companies. (Round answers to 1 decimal place, e.g. 12.5.)
Nike | adidas | |||||
Accounts receivable turnover | times | times |
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