(Answered) Question - suppose the following information was taken from

Accounting

Question - Suppose the following information was taken from the 2017 financial statements of FedEx Corporation, a major global transportation/delivery company.

2017 (in millions) 2016 (in millions)

Accounts receivable (gross) $3,674 $4,552

Accounts receivable (net) $3,268 $4,205

Allowance for doubtful accounts 406 347

Sales revenue 33,158 39,680

Total current assets 7,820 6,800

Answer each of the following questions.

Calculate the accounts receivable turnover and the average collection period for 2017 for FedEx Corporation.

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