None Suppose the following information was taken from the 2025 financial statements of FedEx Corporation, a major globaltransportation/delivery company.(in millions)20252024Accounts receivable (gross)$3,790$4,630Accounts receivable (net)3,3504,350Allowance for doubtful accounts440280Sales revenue33.49535,995Total current assets7,1727.278Answer each of the following questions.(a)Calculate the accounts receivable turnover and the average collection period for 2025 for FedEx. (Round answers to 1 decimalplace, e.g. 12.5. Use 365 days for calculation.)Accounts receivable turnoverAverage collection periodtimesdays

· Ratio analysis used to identify the business performance of the company.· It is used to measure…

Calculate the accounts receivable turnover and the average collection period for 2025 for FedEx. (Round answers to 1 decimal place, e.g. 12.5. Use 365 days for calculation.) Accounts receivable turnover Average collection period times days

Calculate the accounts receivable turnover and the average collection period for 2025 for FedEx. (Round answers to 1 decimal place, e.g. 12.5. Use 365 days for calculation.) Accounts receivable turnover Average collection period times days

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Suppose the following information was taken from the 2022 financial statements of FedEx Corporation, a major global transportation/delivery company. (in millions) 2022 2021 Accounts receivable (gross) $ 3,620 $ 4,540 Accounts receivable (net) 3,400 4,400 Allowance for doubtful accounts 220 140 Sales revenue 36,270 38,770 Total current assets 7,210 7,308 Answer each of the following questions. (a) Calculate the accounts receivable turnover and the average collection period for 2022 for FedEx. (Round answers to 1 decimal place, e.g. 12.5. Use 365 days for calculation.) Accounts receivable turnover times The average collection period for 2022 days
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