Suppose the following information was taken from the 2017 financial statements of FedEx Corporation, a major global transportation/delivery company.(in millions) 2017 2016Accounts receivable (gross) $ 3,302 $ 4,396Accounts receivable (net) 3,273 4,367Allowance for doubtful accounts 29 29Sales revenue 32,226 39,472Total current assets 6,758 6,532Answer each of the following questions.      (a)Calculate the accounts receivable turnover and the average collection period for 2017 for FedEx Corporation. (Round answers to 1 decimal place, e.g. 12.5. Use 365 days for calculation.)

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Asked Apr 21, 2019
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Suppose the following information was taken from the 2017 financial statements of FedEx Corporation, a major global transportation/delivery company.

(in millions)
 
2017
 
2016
Accounts receivable (gross)  
$ 3,302
 
$ 4,396
Accounts receivable (net)  
3,273
 
4,367
Allowance for doubtful accounts  
29
 
29
Sales revenue  
32,226
 
39,472
Total current assets  
6,758
 
6,532

Answer each of the following questions.
 
 
 
 
 
 

(a)

Calculate the accounts receivable turnover and the average collection period for 2017 for FedEx Corporation. (Round answers to 1 decimal place, e.g. 12.5. Use 365 days for calculation.)
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