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A recent annual report for FedEx contained the following data: Required: 1. Determine the accounts receivable turnover ratio and average

Question:

A recent annual report for FedEx contained the following data:


A recent annual report for FedEx contained the following data:


Required:
1. Determine the accounts receivable turnover ratio and average days sales in receivables for the current year.
2. Explain the meaning of eachnumber.

Transcribed Image Text:

(dollars in thousands) Current Year Previous Year Accounts receivable Less: Allowance for doubtful accounts Net accounts receivable Net sales (assume all on credit) $3,178,000 $2,776,000 149,000 3,027,000 $2.627.000 151,000 $24,710,000

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Req 1 3 027 000 2 627 000 2 Req 2 The receivables turnover ratio reflects how many times …View the full answer


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Financial Accounting

Financial Accounting

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6th Edition

Authors: Libby, Short

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Question Posted: July 26, 2012 02:55:44
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