\'11 AT&T; 14:47 uncc.instructure.com e Assignment immel Financial Accounting, 8
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'11 AT&T; 14:47 uncc.instructure.com e Assignment immel Financial Accounting, 8e Exercise 8-14 (Part Level Submission) Suppose the following information was taken from the 2017 financial Counes statements of FedEx Corporation, a major global transportation/delivery company. Accounts recewable Cross) Accounts recelvable (net) 3,772 4,567 3,564 ,524 for doubtful accounts Sales revenue 38,474 41,28 7,3677.193 Help Answer each of the following questions. Calculate the accounts receivable turnover and the average collection period for 2017 for FedEx Corporation. (Round answers to 1 decimal place, e.g. 12.5. Use 365 days for calculation.) Accounts receivable burnover The average collection period for 2017 Attemptsi 0 of S used AVE POR LATER The parts of this question must be completed in order. This part will be available when you complete the part above.Explanation / Answer
Accounts Receivable Turnover ratio 2017=sales /average accounts recivables
=38474/4169.5
=9.2
where sales =$38474
gross account recivables=$3772+$4567/2
=4169.5
Averge Collection Period 2017 = 365days/9.2
=39.6 day
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