Exercise 8-14 (Part Level Submission) Suppose the following information was taken from the 2017 financial...
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Exercise 8-14 (Part Level Submission) Suppose the following information was taken from the 2017 financial statements of FedEx Corporation, a major global transportation/delivery company. (in millions) 2017 Accounts receivable (gross) Accounts receivable (net) Allowance for doubtful accounts Sales revenue Total current assets $ 3,565 3,244 321 38,210 6,765 2016 $ 4,877 4,210 667 35,412 6,888 Answer each of the following questions. (a) Calculate the accounts receivable turnover and the average collection period for 2017 for FedEx Corporation. (Round answers to 1 decimal place, e.g. 12.5. Use 365 days for calculation.) Accounts receivable turnover times The average collection period for 2017 days Click if you would like to Show Work for this question: Open Show Work
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