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
Chapter9: Accounting For Receivables
Section: Chapter Questions
Problem 4PB: Bristax Corporation recorded $1,385,660 in credit sales for the year, and $732,410 in accounts...
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![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](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Ff8e008e1-4351-454e-bb54-56d60b3fb022%2F2252934e-971b-44ba-a824-62eb0bafb926%2Fose4a5_processed.jpeg&w=3840&q=75)
Transcribed Image Text: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
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