Suppose the following information was taken from the 2014 financial statements of FedEx Corporation, a major global transportati
on/delivery company.
(in millions) 2014 2013
Accounts receivable (gross) $3,493 $4,433
Accounts receivable (net) 3,314 4,227
Allowance for doubtful accounts 179 206
Sales revenue 36,938 39,088
Total current assets 7,702 6,801
Required:
Calculate the accounts receivable turnover and the average collection period for 2014 for FedEx
(in millions) 2014 2013
Accounts receivable (gross) $3,493 $4,433
Accounts receivable (net) 3,314 4,227
Allowance for doubtful accounts 179 206
Sales revenue 36,938 39,088
Total current assets 7,702 6,801
Required:
Calculate the accounts receivable turnover and the average collection period for 2014 for FedEx
1 answer:
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