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Homework answers / question archive / Suppose the amounts presented here are basic financial information (in millions) from the 2020 annual reports of Nike and adidas

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

Accounting

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     day
 

 

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