Suppose the 2017 financial statements of 3M Company reported net sales of $23.1 billion. Accounts receivable (net) are $3.2 billion at the beginning of the year and $3.25 billion at the end of the year. A. Compute 3M Company's receivable turnover. B. Compute 3M Company's average collection period for accounts receivable in days.
Suppose the 2017 financial statements of 3M Company reported net sales of $23.1 billion. Accounts receivable (net) are $3.2 billion at the beginning of the year and $3.25 billion at the end of the year. A. Compute 3M Company's receivable turnover. B. Compute 3M Company's average collection period for accounts receivable in days.
Chapter9: Accounting For Receivables
Section: Chapter Questions
Problem 8PB: The following select financial statement information from Vortex Computing. Compute the accounts...
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