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ces FedEx Corporation reported the following rounded amounts (in millions): Accounts Receivable Allowance for Doubtful Accounts Accounts Receivable, Net of Allowance Net Sales (assume all
ces FedEx Corporation reported the following rounded amounts (in millions): Accounts Receivable Allowance for Doubtful Accounts Accounts Receivable, Net of Allowance Net Sales (assume all on credit) Required: 2019 $9,415 2018 $8,880 (300) (400) $9,115 $8,480 $69,690 $65,450 1. Determine the receivables turnover ratio and days to collect for 2019. 2. Do the measures calculated in requirement 1 represent an improvement (or deterioration) in receivables turnover, compared 2018, when the turnover was 8.1? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Determine the receivables turnover ratio and days to collect for 2019. (Use 365 days in a year. Do not round intermediate calculations. Round your final answers to 1 decimal place.) Receivables Turnover Ratio Days to Collect times days Required 1 Required 2 > Complete this question by entering your answers in the tabs below. Required 11 Required 2 Do the measures calculated in requirement 1 represent an improvement (or deterioration) in receivables turnover, compared to 2018, when the turnover was 8.1? Improvement Deterioration < Required 1 Required 2 >
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