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answer Presented here is selected information for Nike, Inc. (in U.S. $ millions) and Adidas AG (in euro millions): Nike Adidas Sales $39,397 21.915 19
answer Presented here is selected information for Nike, Inc. (in U.S. $ millions) and Adidas AG (in euro millions): Nike Adidas Sales $39,397 21.915 19 174 30 193 Allowance for doubtful accounts, beginning of year Allowance for doubtful accounts, end of year Accounts receivable (gross), beginning of year Accounts receivable (gross), end of year 3,696 2,484 3,528 2,612 (a) Calculate the receivables turnover and average collection period for both companies for the current year. The industry average for the receivables turnover was 7.7 times and the average collection period was 47.4 days. (Round receivables turnover to 1 decimal place, 2.8.5.2. Round average collection period to nearest whole day, eg. 15.) Nike (in U.S. $ millions) Adidas (in euro millions) Receivables turnover 110 times 9.2 times Average collection period 33 days 39 days
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