a recent annual report for fedex contained the following data: (dollars in thousands) current year previous year accounts receivable $ 9,426,000 $ 88,392,000 less: allowances 293,000 405,000 net accounts receivable $ 9,133,000 $ 87,987,000 net sales (assume all on credit) $ 69,723,000 required: 1. determine the receivables turnover ratio and average days sales in receivables for the current year.
