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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
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) | $ 3,572 | $ 4,482 | ||
Accounts receivable (net) | 3,460 | 4,401 | ||
Allowance for doubtful accounts | 112 | 81 | ||
Sales revenue | 34,930 | 37,048 | ||
Total current assets | 7,812 | 7,500
|
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.)
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