Suppose the 2022 financial statements of 3M Company report net sales of $22.0 billion. Accounts...
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Accounting
Suppose the 2022 financial statements of 3M Company report net sales of $22.0 billion. Accounts receivable (net) are $2.7 billion at the beginning of the year and $2.80 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
eTextbook and Media
List of Accounts
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
Answer & Explanation
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