Exercise 8-11 Suppose the following information was taken from the 2014 financial statements of FedEx Corporation, a major global transportation/delivery company. (in millions) 2014 2013 Accounts receivable (gross) $ 3,493 $ 4,433 Accounts receivable (net) 3,314 4,227 Allowance for doubtful accounts 179 206 Sales revenue 36,938 39,088 Total current assets 7,702 6,801 Answer each of the following questions. Calculate the accounts receivable turnover and the average collection period for 2014 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 2014.

accounts receivables turnover __times

The average collection period for 2014 __days