Suppose the 2017 financial statements of 3M Company report net sales of $231 billion Accounts receiv

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Suppose the 2017 financial statements of 3M Company report net sales of $231 billion Accounts receivable (net) are $32 billion at the beginning of the year and $325 billion at the end of the year

A)Compute 3M Company’s receivable turnover (Round answer to 1 decimal place, eg 125)

Accounts receivable turnover ratio=

B) Compute 3M Company’s average collection period for accounts receivable in days (Round answer to 1 decimal place, eg 125 Use 365 days for calculation)

Average collection period days=

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