(Solution) - The 2009 financial statements of 3M Company report net sales -(2025 Original AI-Free Solution)

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The 2009 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. Compute 3M?s receivables turnover ratio. Compute 3M?s average collection period for accounts receivable in days.