Question
Suppose the 2017 financial statements of 3M Company report net sales of $ 23.1 billion. Accounts receivable (net) are $ 3.2 billion at the beginning
Suppose the 2017 financial statements of 3M Company report net sales of $ 23.1 billion. Accounts receivable (net) are $ 3.2 billion at the beginning of the year and $ 3.25 billion at the end of the year. Incorrect answer iconYour answer is incorrect. Compute 3M Companys receivable turnover. (Round answer to 1 decimal place, e.g. 12.5.) Accounts receivable turnover ratio 7.32 times List of Accounts Incorrect answer iconYour answer is incorrect. Compute 3M Companys average collection period for accounts receivable in days. (Round answer to 1 decimal place, e.g. 12.5. Use 365 days for calculation.) Average collection period 57.8 days
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