Question 2 Suppose the following information was taken from the 2014 financial statements ofFedEx Corporation, a major global transportation/delivery company.

(in millions)	2014	2013
Accounts receivable (gross)	$ 3,675	$4,625
Accounts receivable (net)	3,381	4,343
Allowance for doubtful accounts	294	282
Sales revenue	35,761	38,305
Total current assets	7,323	7,498

Answer each of the following questions.

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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		days