Question: E6-24 Computing and Interpreting the Receivables Turnover Ratio A recent annual report for FedEx contained the following data: pre Be Accounts receivable Less: Allowances Net

E6-24 Computing and Interpreting the Receivables Turnover Ratio A recent annual report for FedEx contained the following data: pre Be Accounts receivable Less: Allowances Net accounts receivable Net sales (assume all on credit) credit) (dollars in thousands) Current Year Previous Year $ 7,851.000 $7.430,000 252,000 178,000 $ 7,599,000 $7,252,000 $60,319,000 Source: FedEx Corporation Required: 1. Determine the receivables turnover ratio and average days sales in receivables for the current year 2. Explain the meaning of each calculated number

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