Suppose the following information was taken from the 2017 financial statements of FedEx Corporation, a major global transportation/delivery company?

Instructions
Answer each of the following questions.
(a) Calculate the accounts receivable turnover and the average collection period for 2017 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) receivable (gross) 2017 2016 Accounts Accounts receivable (net) Allowance for doubtful accounts Sales revenue Total current assets $3,587 3,391 196 35,497 7,116 $ 4,517 4,359 158 37,953 7,244