Question
Suppose the following information was taken from the 2017 financial statements of FedEx Corporation , a major global transportation/delivery company. (in millions) 2017 2016 Accounts
Suppose the following information was taken from the 2017 financial statements of FedEx Corporation, a major global transportation/delivery company.
(in millions) | 2017 | 2016 | ||
Accounts receivable (gross) | $ 3,704 | $ 4,562 | ||
Accounts receivable (net) | 3,263 | 4,069 | ||
Allowance for doubtful accounts | 441 | 493 | ||
Sales revenue | 37,499 | 35,432 | ||
Total current assets | 7,754 | 7,016 |
Answer each of the following questions.
Calculate the accounts receivable turnover and the average collection period for 2017 for FedEx Corporation. (Round answers to 1 decimal place, e.g. 12.5. Use 365 days for calculation.)
Accounts receivable turnover | times | ||
The average collection period for 2017 | days |
eTextbook and Media
List of Accounts
Is accounts receivable a material component of the companys total current assets? Choose your answer here YesNo
eTextbook and Media
List of Accounts
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