Problem 9-08A a1-a2

Suppose the amounts presented here are basic financial information (in millions) from the 2020 annual reports of Nike and adidas.

		Nike		adidas
Sales revenue		$20,622.5		$11,242
Allowance for doubtful accounts, beginning		79.1		112
Allowance for doubtful accounts, ending		109.2		136
Accounts receivable balance (gross), beginning		2,886.6		1,760
Accounts receivable balance (gross), ending		2,951.7		1,568

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

		Nike			adidas
Accounts receivable turnover			times			times

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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