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please and thank you A recent annual report for FedEx Corporation contained the following data: May 31 2008 2007 1,060,000 830,000 $ $ Accounts receivable
please and thank you
A recent annual report for FedEx Corporation contained the following data: May 31 2008 2007 1,060,000 830,000 $ $ Accounts receivable 39,000 Less: Allowance for doubtful accounts 36,000 1,024,000 791,000 $ $ Accounts receivable, net of allowance 7,010,000 $ 35,214 Net sales (assume all on credit) Required: Determine the receivables turnover ratio and days to collect for 2008. (Consider a 365 days a year. Round your answers to 1 decimal place.) Receivables turnover ratio Days to collect times days Step by Step Solution
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