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Accounting

Q1) Recent annual report for FedEx containing the data given below:

	(Dollars in thousands)
	Current Year	Previous Year
Accounts receivable	$3,178,000	$2,776,000
Less: Allowance for doubtful accounts	151,000	149,000
Net Accounts Receivable	$3,027,000	$2,627,000
Net Sales (assume all on credit)	$24,710,000

problems:

1) Find out accounts receivable turnover ratio and average day's sales in receivables for current year.

2) Describe the meaning of each number

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M920720

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