(e) Alle E8-11 Suppose the foll of FedEx Corporatio e the following information was taken from the 2014 financial statements Hel Hecessary. Foration, a major global transportation/delivery company (in millions) 2014 2013 Accounts receivable (gross) $ 3,587 $ 4,517 Accounts receivable (net) 3,391 4,359 Allowance for doubtful accounts 196 158 Sales revenue 35,497 37,953 Total current assets 7,116 7,244 Compute ratio a company's balance. (LO 7,8), AN Instructions Answer each of the following questions. (al Calculate the accounts receivable turnover and the average collection period for 2014 for FedEx. (b) Is accounts receivable a material component of the company's total current assets? (c) Evaluate the balance in FedEx's allowance for doubtful accounts. available for Lin Inc. Eval