Brief Exercise 8-12 Suppose the 2022 financial statements of 3M Company report net sales of...
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Brief Exercise 8-12 Suppose the 2022 financial statements of 3M Company report net sales of $22.5 billion. Accounts receivable (net) are $3.0 billion at the beginning of the year and $3:25 billion at the end of the year. Compute 3M's accounts receivable turnover (Round answer to 1 decimal place, e.g. 12.5.) Accounts receivable turnover ratio times Compute 3's average collection period for accounts receivable in days. (Round answer to 1 decimal place, ag. 12.8. Uwe 365 days for cateulation.) Average collection period days Click if you would like to Show Work for this questioni Open Show Work
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