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Calculate account receivable turnover and average collection

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Reference no: EM131805775

Problem

Can you please show work? To where I can understand HOW the answer was derived?

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.

Reference no: EM131805775

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