(Solution) - The financial statements of Minnesota Mining and Manufacturing C -(2025 Original AI-Free Solution)

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The financial statements of Minnesota Mining and Manufacturing Company (3M) report net sales of $20.0 billion. Accounts receivable (net) are $2.7 billion at the beginning of the year and $2.8 billion at the end of the year. Compute 3M?s receivables turnover ratio. Compute 3M?s average collection period for accounts receivable in days.