Current Attempt in Progress 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 billion at the end of the year. Assume all sales were on credit. Compute 3M's accounts receivable turnover. (Round answer to 1 decimal place, e.g. 2.5.) Accounts Receivable Turnover times eTextbook and Media Compute 3M's average collection period for accounts receivable in days. (Round answer to 0 decimal places, e.g. 50. Use 365 days for calculation.) Average Collection Period days eTextbook and Media
Current Attempt in Progress 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 billion at the end of the year. Assume all sales were on credit. Compute 3M's accounts receivable turnover. (Round answer to 1 decimal place, e.g. 2.5.) Accounts Receivable Turnover times eTextbook and Media Compute 3M's average collection period for accounts receivable in days. (Round answer to 0 decimal places, e.g. 50. Use 365 days for calculation.) Average Collection Period days eTextbook and Media
Financial Accounting Intro Concepts Meth/Uses
14th Edition
ISBN:9781285595047
Author:Weil
Publisher:Weil
Chapter6: Statement Of Cash Flows
Section: Chapter Questions
Problem 14E
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