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Suppose the 2022 financial statements of 3M Company report net credit sales of $ 24.0 billion. Accounts receivable (net) are $ 3.19 billion at the
Suppose the 2022 financial statements of 3M Company report net credit sales of $ 24.0 billion. Accounts receivable (net) are $ 3.19 billion at the beginning of the year and $3.21 billion at the end of the year. (a1) Your answer is correct. Compute 3M's accounts receivable turnover. (Do not round intermediate calculations. Round answer to 1 decimal place, eg. 2.5.) Accounts Receivable Turnover 7.5 times e Textbook and Media Assistance Used Attempts: 1 of 3 used (22) Compute 3M's average collection period for accounts receivable in days. (Round answer to 1 decimal places, eg. 2.5. Use 365 days for calculation.) Average Collection Period T 1 days
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