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Calculate the receivables turnover and average collection

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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

Net sales

$30,601

€16,915

Allowance for doubtful accounts, beginning of year

54

139

Allowance for doubtful accounts, end of year

41

149

Accounts receivable (gross), beginning of year

3,475

2,085

 

Accounts receivable (gross), end of year

3,358

2,198

Required - Calculate the receivables turnover and average collection period for both companies. The industry average for the receivables turnover was 9.8 times and the average collection period was 37 days.

Reference no: EM132482197

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