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