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.