Problem 8-9A (Part Level Submission) Suppose the amounts presented here are basi

Question

Problem 8-9A (Part Level Submission) Suppose the amounts presented here are basic financial information (in millions) from the 2017 annual reports of Nike and adidas Nike adidas $18,389 $9,946 124 Sales revenue Allowance for doubtful accounts, beginning Allowance for doubtful accounts, ending Accounts receivable balance (gross), beginning Accounts receivable balance (gross), ending 85.6 109 3,0261,893 3,157.0 1,705 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 6.1 times 5.9 times

Explanation / Answer

Calculate average collection period :

Nike Adidas Average collection period 365/6.1 = 59.8 days 365/5.9 = 61.9 days

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