Calculate the receivables turnover ratio

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Reference no: EM13531642

The following information was taken from the 2009 financial statements of FedEx Corporation, a major global transportation/delivery company.

(in millions)

2009

2008

Accounts receivable (gross)

$3,587

4,517

Accounts receivable (net)

3,391

4,359

Allowance for doubtful accounts

196

158

Sales

35,497

37,953

Total current assets

7,116

7,244

Instructions

Answer each of the following questions.

(a) Calculate the receivables turnover ratio and the average collection period for 2009 for FedEx.

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

(c) Evaluate the balance in FedEx"s allowance for doubtful accounts.

Reference no: EM13531642

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