The following information (in $ millions) was taken from recent annual reports of Nike and Under Armour. Nike Under Armour Sales revenue $36,397.0 $4,976.5 Average accounts receivable balance $3,587.5 $616.2 (a1) Calculate each company's accounts receivable turnover. (Round answers to 1 decimal place, e.g. 50.1.) Accounts receivable turnover times Nike times Under Armour
The following information (in $ millions) was taken from recent annual reports of Nike and Under Armour. Nike Under Armour Sales revenue $36,397.0 $4,976.5 Average accounts receivable balance $3,587.5 $616.2 (a1) Calculate each company's accounts receivable turnover. (Round answers to 1 decimal place, e.g. 50.1.) Accounts receivable turnover times Nike times Under Armour
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
I could use a hand with this

Transcribed Image Text:The following information (in $ millions) was taken from recent annual reports of Nike and Under Armour.
Nike
Under Armour
Sales revenue
$36,397.0
$4,976.5
Average accounts receivable balance
$3,587.5
$616.2
(a1)
Calculate each company's accounts receivable turnover. (Round answers to 1 decimal place, e.g. 50.1.)
Accounts receivable turnover
times
Nike
times
Under Armour
Expert Solution

This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 2 steps

Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you


Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,

Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,


Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,

Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,

Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON

Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education

Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education