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WJCIELL Paragraph Styles Editing Suppose the amounts presented here are basic financial information in millions) from the 2022 annual reports of Nike and Adidas. Nike

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WJCIELL Paragraph Styles Editing Suppose the amounts presented here are basic financial information in millions) from the 2022 annual reports of Nike and Adidas. Nike Adidas Sales revenue $20,243.3 $11,141.9 Allowance for doubtful accounts, beginning 85.0 114.0 Allowance for doubtful accounts, ending 118.0 118.0 Accounts receivable balance (gross), beginning 2,668.0 1,666.0 Accounts receivable balance (gross), ending 2,793.0 1,460.0 (a1) Incorrect answer icon Your answer is incorrect. Calculate the accounts receivable turnover for both companies. (Round answers to I decimal place, e.g. 12.5.) Adidas Accounts receivable turnover Nike enter the accounts receivable turnover in times rounded to 1 decimal place! ti enter the accounts receivable turnover in times rounded to 1 es decimal place es b . At December 31, 2021, Sunland Imports reported this information on its balance sheet. Accounts receivable Less: Allowance for doubtful accounts $600,000 33,000 During 2022, the company had the following transactions related to receivables. 1. Sales on account 2. Sales returns and allowances 3. Collections of accounts receivable 4. Write-offs of accounts receivable deemed uncollectible 5. Recovery of bad debts previously written off as uncollectible $2,510,000 50,000 2,310,000 41,000 20,000 Prepare the journal entry to record bad debt expense for 2022, assuming that aging the accounts receivable indicates that estimated bad debts are $46,000. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit enter an account title for the journal entry to record the enter a debit enter a credit bad debt expense for 2022 amount amount enter an account title for the journal entry to record the enter a debit enter a credit bad debt expense for 2022 amount amount

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