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 $18,792.9

Suppose the amounts presented here are basic financial information (in millions) from the 2022 annual reports of Nike and Adidas. Nike Adidas Sales revenue $18,792.9 $8,656.2 Allowance for doubtful accounts, beginning 87.0 110.0 Allowance for doubtful accounts, ending 111.0 112.0 Accounts receivable balance (gross), beginning 3.017.0 1,588.0 Accounts receivable balance (gross), ending 3,147.0 1,382.0 (a1) 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 6.3 times 6.3 times e Textbook and Media Attempts: 1 of 3 used (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
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
