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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 | $18,265.6 | $9,436.4 | ||
Allowance for doubtful accounts, beginning | 80.0 | 120 | ||
Allowance for doubtful accounts, ending | 110.0 | 124 | ||
Accounts receivable balance (gross), beginning | 2,892.0 | 1,714 | ||
Accounts receivable balance (gross), ending | 3,006.0 | 1,574 |
a. Calculate the accounts receivable turnover for both companies. (Round answers to 1 decimal place, e.g. 12.5
b) calculate the average collection period.
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