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)		$ 3,720		$ 4,540
Accounts receivable (net)		3,400		4,350
Allowance for doubtful accounts		320		190
Sales revenue		37,975		40,475
Total current assets		7,188		7,286

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 for 2022			days