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

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6/9/2016 Exercise 811 Print by: FALICIA NEWSOME ACC/291 50155874 / Assignment: Week 1 Assignment *Exercise 811 Suppose the following information was taken from the 2014 financial statements of FedEx Corporation, a major global transportation/delivery company. (in millions) Accounts receivable (gross) Accounts receivable (net) Allowance for doubtful accounts Sales revenue Total current assets 2014 2013 $ 3,579 $ 4,539 3,435 4,378 144 161 35,833 38,014 7,616 7,024 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 days Is accounts receivable a material component of the company's total current assets? Question Attempts: 0 of 3 used Copyright 20002016 by John Wiley & Sons, Inc. or related companies. All rights reserved. http://edugen.wiley.com/edugen/shared/assignment/test/qprint.uni 1/1