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Calculate the receivables turnover ratio

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Reference no: EM133177178

Question - The following information was taken from the 2009 financial statements of FedEx Corporation, a major global transportation/delivery company

(in millions)

2009

2008

Accounts receivable (gross)

$ 3,587

$ 3,391

Accounts receivable (net)

3,391

4,359

Allowance for doubtful accounts

196

158

Sales

35,497

37,953

Total current assets

7,116

7,244

Required - Answer each of the following questions.

(a) Calculate the receivables turnover ratio and the average collection period for 2009 for FedEx.

(b) Is accounts receivable a material component of the company's total current assets?

(c) Evaluate the balance in FedEx's allowance for doubtful accounts.

Reference no: EM133177178

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