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

Presented here is selected information for Nike, Inc. (in U.S. $ millions) and Adidas AG (in euro millions): Nike:Sales: $44,538 Allowance for expected credit losses, beginning of year: 214 Allowance for expected credit losses, end of year: 93 Accounts receivable (gross), beginning of year: 2,963 Accounts receivable (gross), end of year: 4,556Adidas:Sales : 21,234Allowance for expected credit losses, beginning of year: 267 Allowance for expected credit losses, end of year :208Accounts receivable (gross), beginning of year : 2,219 Account receivable (gross), end of year : 2,383(a) Calculate the receivables turnover and average collection period for both companies for the current year. The industry average for the receivables turnover was 12.6 times and the average collection period was 29 days. (Round receivables turnover to 1 decimal place, e.g.5.2. Round average collection period to nearest whole day, e.g.15. Use 365 days for calculation.) Nike:Receivable turnover ?Average collection period ? Adidas Receivable turnover ?Average collection period ?

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