The 1998 financial statements af Minnesota Mining and Manufacturing Company (3M) report net sales of $15.0 billion.
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The 1998 financial statements af Minnesota Mining and Manufacturing Company (3M) report net sales of $15.0 billion. Accounts receivable are $2.5 billion at the beginning of the year and $2.8 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: 9780471347743
2nd Edition
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso
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