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1. The financial statements of General Mills, Inc. report net sales of $12,442,000,000. Accounts receivable are $912,000,000 at the beginning of the year and $953,000,000 at the end of the year. Compute General Mills's accounts receivable turnover ratio. Compute General Mills's average collection period for accounts receivable in days.
Write a paper of 4-6 body pages that answers the following questions, including an in-depth explanation of the supporting rationale:
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