Question 6 of 6

Question 6 of 6 View Policies Current Attempt in Progress Presented here is selected information for Nike, Inc. (in U.S. $ millions) and Adidas AG (in euro millions): 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 $39,397 19 3,696 3,528 Adidas 21,915 174 193 2,484 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, 5.2. Round average collection period to nearest whole day, 15.) Nike (in U.S. $ millions) Adidas (in euro millions) Receivables turnover Average collection period times days