Question - Suppose the following information was taken from the 2014 financial statements of FedEx Corporation, a major global transportation/delivery company.
|
(in millions)
|
2014
|
2013
|
|
Accounts receivable (gross)
|
$ 3,675
|
$ 4,625
|
|
Accounts receivable (net)
|
3,381
|
4,343
|
|
Allowance for doubtful accounts
|
294
|
282
|
|
Sales revenue
|
35,761
|
38,305
|
|
Total current assets
|
7,323
|
7,498
|
Calculate the accounts receivable turnover and the average collection period for 2014 for FedEx.