Suppose the 2022 financial statements of 3M Company report net sales of $23.8 billion. Accounts receivable (net) are $3.4 billion at the beginning of the year and $3.60 billion at the end of the year.

Compute 3Ms accounts 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 3Ms 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