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 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

Explanation / Answer

Calculate account receivable turnover :

Nike Adidas Net account receivable beginning 2940.40 1769 Net account receivable ending 3048 1588 Average account receivable 2994.20 1678.50 Sales 18389 9946 Account receivable turnover (Sales/average account receivable) 6.1 5.9

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