E6-22 Computing and Interpreting the Receivables Turnover Ratio LO6-3 A recent annual report for FedEx contained the following data: (dollars in thousands) Less: Alowance for doubtful accounts Net accounts receivable Net sales (assume all on credit) t Year $3,777,000 179,000 3,598,000 35,497,000 Previous Year S 4,657,000 138,000 $ 3,598,000 S 4519,000 Required: 1. Determine the receivables tumover ratio and average days sales in receivables for the current year. (Use 365 days a year. Enter your answers in thousands not in dollars. Ratio values should be rounded to 2 decimal places.) Receivables Turnover Ratio Numerator times Denominator Average Days Sales in Receivables Numerator days Denominator