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Presented here is selected information for Nike, Inc. (in U.S. $ millions) and Adidas AG in euro mos! Adidas 16,915 139 Net sales Allowance for
Presented here is selected information for Nike, Inc. (in U.S. $ millions) and Adidas AG in euro mos! Adidas 16,915 139 Net sales 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 Nike $30,601 54 41 3,475 3,358 149 2,085 2,198 (a) Calculate the receivables turnover and average collection period for both companies. The industry average for the receivables turnover was 9.8 times and the average collection period was 37 days. (Round receivables turnover to 1 decimal place, e.g. 5.2. Round average collection period to nearest whole day, e.g. 15.) Nike Adidas AG (in U.S. $ millions) (in euro millions) Receivables turnover times times Average collection period days days
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