Suppose the following information was taken from the 2022 financial statements of FedEx Corporation, a major global transportation/delivery company.

(in millions) 2022 2021

Accounts receivable(Gross) $3,860 $4,680

Accounts receivable (net) $3,400 $4,350

Allowance for doubtful account $460 $330

Sales revenue $34,540 $37,040

Total Current Assests $7,144 $7,266

Answer each of the following questions.

(a)

Calculate the accounts receivable turnover and the average collection period for 2022 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 2022 ? days