Answered

Get the answers you need at Westonci.ca, where our expert community is dedicated to providing you with accurate information. Experience the ease of finding reliable answers to your questions from a vast community of knowledgeable experts. Our platform provides a seamless experience for finding reliable answers from a network of experienced professionals.

Presented is basic financial information (in millions) from the annual reports of Nike Nike Sales revenue $18,627 Allowance for doubtful accounts, Jan. 1 71.5 Allowance for doubtful accounts, Dec. 31 78.4 Accounts receivable balance (gross), Jan 1 2,566.2 Accounts receivable balance (gross), Dec. 31 2,873.7 Instructions: Calculate the average collection period (DAYS) for Nike. Only record the number and round to one decimal.

Sagot :

ayokenny2001

Answer:

See below

Explanation:

Average collection period is computed as

= [Average accounts receivables / Net sales] × 365

Average accounts receivables = [(2,566.2 + 2,873.7)/2] = 2,720

Net sales = 18,627

Average collection period = [2,720/18627] × 365

= 53 days

Thank you for your visit. We're dedicated to helping you find the information you need, whenever you need it. Thank you for your visit. We're dedicated to helping you find the information you need, whenever you need it. We're dedicated to helping you find the answers you need at Westonci.ca. Don't hesitate to return for more.