A recent annual report for FedEx contained the following data: Accounts receivable Less: Allowances Net accounts receivable Net sales (assume all on credit) Required: 1. Determine the receivables turnover ratio and average days sales in receivables for the current year. Note: Use 365 days a year. Enter your answers in thousands not in dollars. Numerator Denominator Numerator Denominator (dollars in thousands) Current Year Previous Year $9,416,000 $ 88,452,000 293,000 397,000 $9,123,000 $ 88,055,000 $ 69,703,000 Receivables Turnover Ratio Net sales Average net trade accounts receivable Average Days Sales in Receivables 365 Receivables turnover 365 1.43 0 times 255.24 days

A recent annual report for FedEx contained the following data: Accounts receivable Less: Allowances Net accounts receivable Net sales (assume all on credit) Required: 1. Determine the receivables turnover ratio and average days sales in receivables for the current year. Note: Use 365 days a year. Enter your answers in thousands not in dollars. Numerator Denominator Numerator Denominator (dollars in thousands) Current Year Previous Year $9,416,000 $ 88,452,000 293,000 397,000 $9,123,000 $ 88,055,000 $ 69,703,000 Receivables Turnover Ratio Net sales Average net trade accounts receivable Average Days Sales in Receivables 365 Receivables turnover 365 1.43 0 times 255.24 days

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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I Need help finding the number of days of sales.....
compute number of days sales in receivables round your calculation and answer assume 365 days ina year
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