Presented here is selected information for Nike, Inc. (in U.S. $ millions) and Adidas AG (in...

Transcribed Image Text:

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 Allowance for doubtful accounts, beginning of year 19 174 Allowance for doubtful accounts, end of year 30 193 Accounts receivable (gross), beginning of year 3,696 2,484 Accounts receivable (gross), end of year 3,528 2,612 (a) Calculate the receivables turnover and average collection period for both companies for the current year. The i the receivables turnover was 7.7 times and the average collection period was 47.4 days. (Round receivables turnove e.g. 5.2. Round average collection period to nearest whole day, e.g. 15.) Nike (in U.S. $ millions) Adidas (in euro millions) Receivables turnover times times Average collection period days days 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 Allowance for doubtful accounts, beginning of year 19 174 Allowance for doubtful accounts, end of year 30 193 Accounts receivable (gross), beginning of year 3,696 2,484 Accounts receivable (gross), end of year 3,528 2,612 (a) Calculate the receivables turnover and average collection period for both companies for the current year. The i the receivables turnover was 7.7 times and the average collection period was 47.4 days. (Round receivables turnove e.g. 5.2. Round average collection period to nearest whole day, e.g. 15.) Nike (in U.S. $ millions) Adidas (in euro millions) Receivables turnover times times Average collection period days days

Answer rating: 100% (QA)

To calculate the receivables turnover and average collection period for both Nike Inc in US millions ... View the full answer