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Compute average collection period for accounts receivable

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Problem 1: Suppose the 2022 financial statements of 3M Company report net sales of $28.5 billion. Accounts receivable (net) are $3.7 billion at the beginning of the year and $3.80 billion at the end of the year. Compute 3M's average collection period for accounts receivable in days.

Reference no: EM132945629

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