Question
Suppose the 2017 financial statements of 3M Company report net sales of $22.3 billion. Accounts receivable (net) are $3.20 billion at the beginning of the
Suppose the 2017 financial statements of3M Companyreport net sales of $22.3 billion. Accounts receivable (net) are $3.20 billion at the beginning of the year and $3.20 billion at the end of the year.
Compute 3M Company's receivable turnover.(Round answer to 1 decimal place, e.g. 12.5.)
Accounts receivable turnover ratio
enter the accounts receivable turnover ratio in times rounded to 1 decimal place
times
SHOW LIST OF ACCOUNTS
LINK TO TEXT
Compute 3M Company's 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
enter the average collection period in days rounded to 1 decimal place
days
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