Suppose the following information was taken from the 2022 financial statements of FedEx Corporation, a major global transportation/delivery company. (in millions) 2022 2021
Accounts receivable (gross) $ 3,740 $ 4,610
Accounts receivable (net) 3,400 4,350
Allowance for doubtful accounts 340 260
Sales revenue 33,325 35,825
Total current assets 7,170 7,292
Answer each of the following questions.
Calculate the accounts receivable turnover and the average collection period for 2022 for FedEx.
A. Accounts receivable turnover times
B. The average collection period for 2022days

Gold nest company of guandong, china, is a family-owned enterprise that makes birdcages for the south china market. the company sells its birdcages through an extensive network of street vendors who receive commissions on their sales. all of the company's transactions with customers, employees, and suppliers are conducted in cash; there is no credit. the company uses a job-order costing system in which overhead is applied to jobs on the basis of direct labor cost. its predetermined overhead rate is based on a cost formula that estimated $330,000 of manufacturing overhead for an estimated activity level of $200,000 direct labor dollars. at the beginning of the year, the inventory balances were as follows: