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FedEx Corporation reported the following rounded amounts (in millions): Required:

FedEx Corporation reported the following rounded amounts (in millions): Required: 1. Determine the receivables turnover ratio and

Question:

FedEx Corporation reported the following rounded amounts (in millions):

Required:
1. Determine the receivables turnover ratio and days to collect for 2013. Round your answers to one decimal place.
2. Do the measures calculated in requirement 1 represent an improvement (or decline) in receivables turnover, compared to 2012 when the turnover was 7.6?

Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...

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May 31 Accounts Receivable Allowance for Doubtful Accounts Accounts Receivable. Net of Allowance 5,000 Net Sales (assume all on credit) 2013 5,175 175(1e0) 2012 4800 $ 4,700 $42,700 (175) $440000 542700

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Fundamentals of Financial Accounting

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Authors: Fred Phillips, Robert Libby, Patricia Libby

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Question Posted: Nov 02, 2015 05:49 AM

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