The 2004 financial statements of 3M Company report net sales of $20.0 billion. Accounts receivable (net) are

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The 2004 financial statements of 3M Company report net sales of $20.0 billion.

Accounts receivable (net) are $2.7 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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Financial Accounting Tools For Business Decision Making

ISBN: 9780471730514

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Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso

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Question Posted: Jul 05, 2024 10:09 AM

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The 2004 financial statements of 3M Company report net sales of $20.0 billion. Accounts receivable (net) are

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Financial Accounting Tools For Business Decision Making

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