Suppose the following information was taken
by | Mar 18, 2020 | Uncategorized
Suppose the following information was taken from the 2014 financial statements of FedEx Corporation, a major global transportation/delivery company.
| (in millions) |
2014 |
2013 |
| Accounts receivable (gross) |
$ 3,515 |
$ 4,425 |
| Accounts receivable (net) |
3,431 |
4,373 |
| Allowance for doubtful accounts |
84 |
52 |
| Sales revenue |
36,764 |
39,290 |
| Total current assets |
7,394 |
7,520 |
Answer each of the following questions. |
|
|
|
|
Calculate the accounts receivable turnover and the average collection period for 2014 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 2014 |
|
days
|
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