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Calculate the accounts receivable turnover

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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) $3,488 $4,225

Accounts receivable (net) 3,231 3,923

Allowance for doubtful accounts 257 302

Sales revenue 33,480 35,299

Total current assets 6,987 6,756

Answer each of the following questions.

(a) Calculate the accounts receivable turnover and the average collection period for 2017 for FedEx Corporation.

(b) Is accounts receivable a material component of the company's total current assets?

Reference no: EM132642491

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