Suppose the following information was taken from the 2022 financial statements of FedEx Corporation, a major global transportation/delivery company. (in millions) 2022 2021 Accounts receivable (gross) $ 3,800 $ 4,520 Accounts receivable (net) 3,450 4,350 Allowance for doubtful accounts 350 170 Sales revenue 36,660 39,160 Total current assets 7,178 7,284 Answer each of the following questions. (a) Your answer is incorrect. Try again. Calculate the accounts receivable turnover and the average collection period for 2022 for FedEx. (Round answers to 1 decimal place, e.g. 12.5. Use 365 days for calculation.) Accounts receivable turnover enter the accounts receivable turnover in times rounded to 1 decimal place times The average collection period for 2022 enter the average collection period for 2022 in days rounded to 1 decimal place days
Suppose the following information was taken from the 2022 financial statements of FedEx Corporation, a major global transportation/delivery company. (in millions) 2022 2021 Accounts receivable (gross) $ 3,800 $ 4,520 Accounts receivable (net) 3,450 4,350 Allowance for doubtful accounts 350 170 Sales revenue 36,660 39,160 Total current assets 7,178 7,284 Answer each of the following questions. (a) Your answer is incorrect. Try again. Calculate the accounts receivable turnover and the average collection period for 2022 for FedEx. (Round answers to 1 decimal place, e.g. 12.5. Use 365 days for calculation.) Accounts receivable turnover enter the accounts receivable turnover in times rounded to 1 decimal place times The average collection period for 2022 enter the average collection period for 2022 in days rounded to 1 decimal place days
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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