The financial statements of Minnesota Mining and Manufacturing Company (3M) report net sales of ($ 9.4) billion.
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The financial statements of Minnesota Mining and Manufacturing Company (3M) report net sales of \(\$ 9.4\) billion. Accounts receivable are \(\$ 1.6\) billion at the beginning of the year and \(\$ 1.4\) billion at the end of the year. Compute 3M's receivables turnover ratio. Compute 3M's average collection period for accounts receivable in days.
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Related Book For 
Financial Accounting Tools For Business Decision Making
ISBN: 9780471169192
1st Edition
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso
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