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Suppose the 2017 financial statements of 3M Company report net sales of $24.2 billion. Accounts receivable (net) are $3.10 billin at the beginning of the
Suppose the 2017 financial statements of 3M Company report net sales of $24.2 billion. Accounts receivable (net) are $3.10 billin at the beginning of the year and $3.57 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 times LINK TO TEXT INTERACTIVE TUTORIAL 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 days
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