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Calculate the account receivable turnover for 2017 for fedex

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Reference no: EM132329720

Question

Suppose the following information was taken from the 2017 financial statements of FedEx Corporation, a major global transportation/delivery company.

(in millions)

2017

2016

Accounts receivable (gross)

$ 3,368

$ 4,683

Accounts receivable (net)

3,242

4,392

Allowance for doubtful accounts

126

291

Sales revenue

36,395

39,677

Total current assets

     6,407

   7,070

Answer each of the following questions.

Calculate the accounts receivable turnover and the average collection period for 2017 for FedEx Corporation. (Round answers to 1 decimal place, e.g. 12.5. Use 365 days for calculation.)

Accounts receivable turnover

The average collection period for 2017

Reference no: EM132329720

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