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Suppose the following information was taken from the 2014 financial statements of FedEx Corporation, a major global transportation/delivery company.

Accounts receivable (gross) $3,621 $4,591
Accounts receivable (net) 3,343 4,256
Allowance for doubtful accounts 278 335
Sales revenue 36,445 38,527
Total current assets 7,297 7,150

Calculate the accounts receivable turnover and the average collection period for 2014 for FedEx. (Round answers to 1 decimal place, e.g. 12.5. Use 365 days for calculation.)

Accounts receivable turnover times

The average collection period for 2014 days

Accounting Basics, Accounting

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