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Question - 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)
$ 3,675
$ 4,625
Accounts receivable (net)
3,381
4,343
Allowance for doubtful accounts
294
282
Sales revenue
35,761
38,305
Total current assets
7,323
7,498
Calculate the accounts receivable turnover and the average collection period for 2014 for FedEx.
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