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Suppose the amounts presented here are basic financial information (in millions) from the 2022 annual reports of Nike and Adidas . Nike Adidas Sales revenue
Suppose the amounts presented here are basic financial information (in millions) from the 2022 annual reports of Nike and Adidas.
Nike | Adidas | |||
---|---|---|---|---|
Sales revenue | $20,235.6 | $11,723.8 | ||
Allowance for doubtful accounts, beginning | 71.0 | 111.0 | ||
Allowance for doubtful accounts, ending | 102.0 | 112.0 | ||
Accounts receivable balance (gross), beginning | 2,804.0 | 1,806.0 | ||
Accounts receivable balance (gross), ending | 2,913.0 | 1,629.0 |
1. Calculate the accounts receivable turnover for both companies.
2. Calculate the average collection period for both companies.
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