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Calculate receivables turnover and average collection period

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Question - 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

Required - 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.

Reference no: EM133054304

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