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Question - Suppose the 2017 financial statements of 3M Company report 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.
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