Please see below. I need help with this excel sheet. Note, please be sure to use cell referencing and the appropriate formulas for each part. BCEFH.1 Function: AVERAGE; Formula: Divide; Cell ReferencingKE 3 Using Excel to Assess Accounts ReceivableStudent Work AreaRequired: Provide input into cells shaded in yellow in this template.Use the AVERAGE function with cell references in calculating thePROBLEM5 The 2022 financial statements of 3M Company reported the6 following amounts.turnover. Use cell references with mathematical formulas to calculate7the average collection period.8.Net sales23.1 billion9Accounts receivable, netBeginning of yearEnd of yearCompute 3M's accounts receivable turnover and the average collectionperiod in days.103.20 billion113.25 billion12Accounts receivable turnover1314Average collection period15%2400

Accounts receivable turnover (ART) ratio refers to a ratio which shows the relationship between the…

Answered: Compute 3M's accounts receivable…

Business

Accounting

Compute 3M's accounts receivable turnover and the average collection period in days.

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter15: Financial Statement Analysis

Section: Chapter Questions

Problem 14BEA: Last year, Nikkola Company had net sales of 2.299.500,000 and cost of goods sold of 1,755,000,000....

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Question

Please see below. I need help with this excel sheet. Note, please be sure to use cell referencing and the appropriate formulas for each part.

B
C
E
F
H.
1 Function: AVERAGE; Formula: Divide; Cell Referencing
K
E 3 Using Excel to Assess Accounts Receivable
Student Work Area
Required: Provide input into cells shaded in yellow in this template.
Use the AVERAGE function with cell references in calculating the
PROBLEM
5 The 2022 financial statements of 3M Company reported the
6 following amounts.
turnover. Use cell references with mathematical formulas to calculate
7
the average collection period.
8.
Net sales
23.1 billion
9
Accounts receivable, net
Beginning of year
End of year
Compute 3M's accounts receivable turnover and the average collection
period in days.
10
3.20 billion
11
3.25 billion
12
Accounts receivable turnover
13
14
Average collection period
15
%24
00

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