A recent annual report for FedEx contained the following data:

	(dollars in thousands)
Current Year	Previous Year
Accounts receivable	$ 9,456,000	$ 88,472,000
Less: Allowances	291,000	400,000
Net accounts receivable	$ 9,165,000	$ 88,072,000
Net sales (assume all on credit)	$ 69,703,000

Required:

1. Determine the receivables turnover ratio and average days sales in receivables for the current year.

Note: Use 365 days a year. Enter your answers in thousands, not in dollars.

\begin{tabular}{|c|c|c|c|c|} \hline \multicolumn{2}{|c|}{ Receivables Turnover Ratio } & \multicolumn{2}{|c|}{0 times } \\ \hline Numerator & Net sales & \multicolumn{2}{|c|}{} \\ \hline Denominator & Average net trade accounts receivable & Average Days Sales in Receivables & \\ \hline Numerator & 365 & days \\ \hline Denominator & Receivables turnover & & \\ \hline \end{tabular}