E6-19 Computing and Interpreting the Receivables Tumover Ratio A recent annual report for FedEx contained the following data: Accounts receivable Less: Allowance for doubtful accounts (dollars in thousands) Current Year Previous Year 4,763,000 4,329,000 182,000 166,000 Net accounts receivable Net sales (assume all on credit) Required: 4,581,000 $ 4,163,000 $ 39,304,000 1. Determine the receivable turnover ratio and average days sales in receivables for the current year. (Use 365 days a year) Numerator Denominator Receivables Tumover Ratio Average Days Sales in Receivables Numerator Denominator days