Computing and Interpreting the Receivables Turnover Ratio A recent annual report for FedEx contained the following data:

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Computing and Interpreting the Receivables Turnover Ratio
A recent annual report for FedEx contained the following data:

(dollars in thousands) Current Year Previous Year Accounts receivable Less: Allowance for doubtful accounts Net accounts

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

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