Suppose the amounts presented here are basic financial information (in millions) from the 2022 annual reports of

Question:

Suppose the amounts presented here are basic financial information (in millions) from the 2022 annual reports of Nike and adidas.

adidas $10,381 119 124 1,743 1,553 Nike $19,176.1 78.4 Sales revenue Allowance for doubtful accounts, beginning Allowanc

Instructions

Calculate the accounts receivable turnover and average collection period for both companies. Comment on the difference in their collection experiences.

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Related Book For answer-question

Financial Accounting Tools for Business Decision Making

ISBN: 978-1119493631

9th edition

Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso

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Question Posted: Jul 11, 2019 06:48 AM

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Suppose the amounts presented here are basic financial information (in millions) from the 2022 annual reports of

Question:

adidas $10,381 119 124 1,743 1,553 Nike $19,176.1 78.4 Sales revenue Allowance for doubtful accounts, beginning Allowance for doubtful accounts, ending Accounts receivable balance (gross), beginning Accounts receivable balance (gross), ending 110.8 2,873.7 2,994.7

Step by Step Answer:

Accounts receivable turnover a 28737 784 b2994...View the full answer

Financial Accounting Tools for Business Decision Making

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