Suppose the following information was taken from the 2025 financial statements of FedEx Corporation, a major global transportation/delivery company.

InstructionsAnswer each of the following questions.a. Calculate the accounts receivable turnover and the average collection period for 2025 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.

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(in millions) Accounts receivable (gross) Accounts receivable (net) Allowance for doubtful accounts Sales revenue Total current assets 2025 $ 3,587 3,391 196 35,497 7,116 2024 $ 4,517 4,359 158 37,953 7,244