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Exercise 8-16 a-b Suppose the following information was taken from the 2022 financial statements of FedEx Corporation, a major global transportation/delivery company. (in millions) Accounts receivable (gross) Accounts receivable (net) Allowance for doubtful accounts 2021 $ 4,550 4,400 2022 $ 3,650 3,200 450 34,960 7,164 150 Sales revenue 37,460 7,280 Total current assets Answer each of the following questions. X Your answer is incorrect. Try again. Calculate the accounts receivable turnover and the average collection period for 2022 for FedEx. (Round answers to 1 decimal place, e.g. 12.5. Use 365 days for calculation.) Accounts receivable turnover times X The average collection period for 2022 days LINK TO TEXT LINK TO VIDEO XYour answer is incorrect. Try again. Is accounts receivable a material component of the company's total current assets