Week 9 - Homework: Chapter 9

Question 5 of 5

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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		$23,872.8		$12,936
Allowance for doubtful accounts, beginning		77.2		107
Allowance for doubtful accounts, ending		106.8		128
Accounts receivable balance (gross), beginning		2,870.1		1,760
Accounts receivable balance (gross), ending		2,997.9		1,555

(a1)

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Your answer is correct.

Calculate the accounts receivable turnover for both companies. (Round answers to 1 decimal place, e.g. 12.5.)

		Nike			adidas
Accounts receivable turnover			8.4			8.4

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(a2)

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

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