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The financial statements of Minnesota Mining and Manufacturing Company (3M) report net sales of $20.0 billion. Accounts receivable (net) are $2.7 billion at the beginning
The financial statements of Minnesota Mining and Manufacturing Company (3M) report net sales of $20.0 billion. Accounts receivable (net) are $2.7 billion at the beginning of the year and $2.8 bil ion at the end of the year. Compute 3M's accounts receivable turnover. (Round answer to 1 decimal place, e.g. 2.5.) Accounts Receivable Turnover times LINK TO TEXT VIDEO TUTORIAL Compute 3M's average collection period for accounts receivable in days. (Round answer to O decimal places, e.g. 50. Use 365 days for calculation.) Average Collection Period days
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