Suppose the following information was taken from the 2025 financial statements of FedEx Corporation, a major global transportation/delivery company. (in millions) Accounts receivable (gross) Accounts receivable (net) Allowance for doubtful accounts Sales revenue Total current assets 2025 Average collection period $ 3,600 3,150 450 36,375 7,200 2024 $ 4,670 4,350 320 38,600 7,246 (a) Calculate the accounts receivable turnover and the average collection period for 2025 for FedEx. (Round answers to 1 decimal place, e.g. 12.5. Use 365 days for calculation.) Accounts receivable turnover enter a number of times rounded to 1 decimal place times enter a number of days rounded to 1 decimal place days (b) Is accounts receivable a material component of the company's total current assets? select an option YesNo

Suppose the following information was taken from the 2025 financial statements of FedEx Corporation, a major global transportation/delivery company. (in millions) Accounts receivable (gross) Accounts receivable (net) Allowance for doubtful accounts Sales revenue Total current assets 2025 Average collection period $ 3,600 3,150 450 36,375 7,200 2024 $ 4,670 4,350 320 38,600 7,246 (a) Calculate the accounts receivable turnover and the average collection period for 2025 for FedEx. (Round answers to 1 decimal place, e.g. 12.5. Use 365 days for calculation.) Accounts receivable turnover enter a number of times rounded to 1 decimal place times enter a number of days rounded to 1 decimal place days (b) Is accounts receivable a material component of the company's total current assets? select an option YesNo

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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