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Suppose the following information was taken from the 2025 financial statements of FedEx Corporation, a major global transportation/delivery company. (in millions) 2025 2024 Accounts
Suppose the following information was taken from the 2025 financial statements of FedEx Corporation, a major global transportation/delivery company. (in millions) 2025 2024 Accounts receivable (gross) $3,780 $4,650 Accounts receivable (net) 3,400 4,400 Allowance for doubtful accounts 380 250 Sales revenue 34,320 36,820 Total current assets 7,190 7,262 (a) * Your answer is incorrect. Calculate the accounts receivable turnover and the average collection period for 2025 for FedEx. (Round answers to 1 decimal place, e.g. 12.5. Use 365 days for calculation.) Accounts receivable turnover Average collection period 8.6 times 42.44 days
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