Question: Presented here is basic financial information (in millions) from the 2006 annual reports of Nike and Adidas. Instructions Calculate the receivables turnover ratio and average

Presented here is basic financial information (in millions) from the 2006 annual reports of Nike and Adidas.

Instructions
Calculate the receivables turnover ratio and average collection period for both companies. Comment on the difference in their collectionexperiences.

Nike Sales Allowance for doubtful accounts, Jan. 1 Allowance for doubful accounts, Dec. 31 Accounts receivable balance (gross), Jan. 1 Accounts receivable balance (gross), Dec. 31 $16,325.9 67.6 71.5 2,450.5 Adidas $10,084 81 112 1,046 1,527

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