Transcribed Image Text: US Kiumel, finamclal Accounting, Se Hele I Syotem Aenouncements CALLAT Briel Exercise 8-11 he 20117 financial staternents of 3M Company report net sales of $25.3 billion. Accounts

Transcribed Image Text: US
Kiumel, finamclal Accounting, Se
Hele I Syotem Aenouncements
CALLAT
Briel Exercise 8-11
he 20117 financial staternents of 3M Company report net sales of $25.3 billion. Accounts receivable (net) are $3.00 billion at the beginning of the year and $3.24 billion at the cde
Compute 3M Company’s receivable turnover. (Round answer to 1 decimal place, e.g. 12.5.)
Accounts receivable turnover ratio
times
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Compute 3M Company’s 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
days
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Question Attempts: 0 of 3 usec

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