Problem - Suppose the following information was taken from the 2017 financial statements of FedEx Corporation, a major global transportation/delivery company.
(in millions) 2017 2016
Accounts receivable (gross)$ 3,430 $ 4,646
Accounts receivable (net) $3,292 $4,237
Allowance for doubtful accounts$138 $ 409
Sales revenue $34,398 $38,718
Total current assets $7,615 $7,346
Answer each of the following questions - Calculate the accounts receivable turnover and the average collection period for 2017 for FedEx Corporation.