A recent annual report for FedEx contained the following data: (dol Accounts receivable Less: Allowance...
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Accounting
A recent annual report for FedEx contained the following data: (dol Accounts receivable Less: Allowance for doubtful accounts Net accounts receivable Net sales (assume all on credit) 3,637,000 195,000 $ 3,442,000 $36,197,000 $4,697,000 140,000 S 4,557,000 Required: 1. Determine the receivables turnover ratio and average days sales in receivables for the current year. (Use 365 days a year. Eniter your answers in thousands not in dollars. Ratlo values should be rounded to 2 decimal places.) Receivables Turnover Ratio Numerator times Denominator Average Days Sales in Receivables Numerator days Denominator 27
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