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

adidas

Sales revenue $19,795.3 $10,675
Allowance for doubtful accounts, beginning 77.2 112
Allowance for doubtful accounts, ending 104.1 134
Accounts receivable balance (gross), beginning 2,884.3 1,740
Accounts receivable balance (gross), ending 2,952.8 1,556
(a1)

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

Accounts Receivable Turnover = Sales/Average accounts receivables

Sales revenue / [Accounts receivable balance (gross), beginning - Allowance for doubtful accounts, beginning) + (Accounts receivable balance (gross), ending + Allowance for doubtful accounts, ending) / 2

For Nike

Accounts Receivable Turnover = $19795.3/ [(2884.3-77.2)+(2952.8-104.1)/2]

Accounts Receivable Turnover = $19795.3 / $2827.9

Accounts Receivable Turnover = 7 times

For Adidas

Accounts Receivable Turnover = 10675/[(1740-112)+(1556-134)]/2

Accounts Receivable Turnover = $10675 / $1525

Accounts Receivable Turnover = 7 times

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