Suppose the following information was taken from the 2022 financial statements of FedEx Corporation, a major global transportation/delivery company.
(in millions) 2022 2021
Accounts receivable (gross) $3,720 $4,640
Accounts receivable (net) 3,350 4,350
Allowance for doubtful accounts 370 290
Sales revenue 36,575 39,075
Total current assets 7,190 7,252
Required:
Calculate the accounts receivable turnover and the average collection period for 2022 for FedEx.
Answers: 3
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Suppose the following information was taken from the 2022 financial statements of FedEx Corporation,...
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