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 receivable
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) $ 3,426 $ 4,342 Accounts receivable (net) 3,400 4,238 Allowance for doubtful accounts 26 104 Sales revenue 37,658 34,375 Total current assets 6,532 7,062 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 enter the accounts receivable turnover in times rounded to 1 decimal place times The average collection period for 2017 enter the average collection period for 2017 in days rounded to 1 decimal place days
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