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Presented here is selected information for Nike, Inc. (in U.S. \$ millions) and...

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Accounting

image Presented here is selected information for Nike, Inc. (in U.S. \$ millions) and Adidas AG (in euro millions): (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, e.g. 5.2. Round average collection period to nearest whole day, e.g. 15.)

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