A recent annual report for FedEx contained the following data:

	(dollars in thousands)
	Current Year	Previous Year
Accounts receivable	$ 9,396,000	$ 88,432,000
Less: Allowances	293,000	397,000
Net accounts receivable	$ 9,103,000	$ 88,035,000
Net sales (assume all on credit)	$ 69,693,000

Required:

1. Determine the receivables turnover ratio and average days sales in receivables for the current year.

Note: Use 365 days a year. Enter your answers in thousands not in dollars.

A recent annual report for FedEx contained the following data: 1. Denwer. 1. Determine the receivables turnover ratio and average days sales in receivables for the current year. Note: Use 365 days a year. Enter your answers in thousands not in dollars