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The 2006 financial statements of MM Company report net sales of $38.7 billion. Accounts receivable (net) are $3.1 billion at the beginning of the year
The 2006 financial statements of MM Company report net sales of $38.7 billion. Accounts receivable (net) are $3.1 billion at the beginning of the year and $3.6 billion at the end of the year. Compute MM's receivables turnover ratio. Compute MM's average collection period for accounts receivable in days. (Round answers to 3 decimal places, e.g. 5.221.) Receivables turnover ratio times Average collection period days
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