Calculate the account receivable turnover for both companies

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Reference no: EM131988201

Problem

Suppose the amounts presented here are basic financial information (in millions) from the 2017 annual reports of Nike and adidas.

	Nike	adidas
Sales revenue	$21,049	$11,187
Allowance for doubtful accounts, beginning	77.7	114
Allowance for doubtful accounts, ending	120	112
Accounts receivable balance (gross), beginning	2,666	1,671
Accounts receivable balance (gross), ending	2,777.0	1,473

Calculate the accounts receivable turnover for both companies.

Calculate the average collection period for both companies.

Reference no: EM131988201

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