Question: 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

 $20,235.6 $11,723.8

Allowance for doubtful accounts, beginning

 71.0 111.0

Allowance for doubtful accounts, ending

 102.0 112.0

Accounts receivable balance (gross), beginning

 2,804.0 1,806.0

Accounts receivable balance (gross), ending

 2,913.0 1,629.0

1. Calculate the accounts receivable turnover for both companies.

2. Calculate the average collection period for both companies.

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