Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. suppose the 2022 financial statements of 3m compan

Suppose the 2022 financial statements of 3M Company report net sales of $ 21.6 billion....

60.1K

Verified Solution

Question

Accounting

Suppose the 2022 financial statements of 3M Company report net sales of $ 21.6 billion. Accounts receivable (net) are $ 2.3 billion at the beginning of the year and $ 2.50 billion at the end of the year.

Compute 3Ms accounts receivable turnover. (Round answer to 1 decimal place, e.g. 12.5.)

Accounts receivable turnover ratio

enter the accounts receivable turnover ratio in times rounded to 1 decimal place

 times

List of Accounts

Compute 3Ms 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

enter the average collection period in days rounded to 1 decimal place

 days

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Zin AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

30 The energy of second Bohr orbit of the hydrogen a is 328 kJ mol...

Physics
Q

PYTHON - please finish the methods below that are apart of a linkedlist class #return the...

Programming
Q

RayLok Incorporated has invented a secret process to improve light intensity and, as a result, manufactures...

Accounting
Q

One Correct Options block A of mass M moving with speed u collides stically with...

Physics
Q

Three concentric conducting spherical shells carry charges as follows 4Q on the inner shell 2Q...

Physics
Q

Use technology to find the P-value for the hypothesis test described below. The claim is...

Basic Math
Q

Consider g(y) = 6y(ln( 5y))Determine the intervals on which g is concave down.g is...

Calculus
Q

The Australian share market has risen considerably since the S&P/ASX200 index closed at 4546 on...

Accounting
Q

Borders 54 |Ch. 15 Case COMMUNICATING IN PRACTICE C1 C2 0 BTN 15-2 Assume that...

Accounting
Q

This question: 1 point(s) posSSIbleSubmit tesThe Cash account of Guard Dog Security Systems reported a...

Accounting
Q

Prepare los asientos de diario para registrar las siguientes transacciones en los libros de Crane...

Accounting
Q

The stages of a certain manufacturing process have the following capacities: Stage 1: Capacity =...

Finance