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WileyPLUS https://edugen wileyplus.com/edugen/student/mainf.uni 90% Qwileyplus PLUS I Help Contact Us I Log Out WileyPLUS Weygandt, Financial Accounting, 10e FINANCIAL ACCOUNTING (ACC 2000) Home Read, Study& Practice Gradebok ORIONDownloadable eTextbook Assignment Open Assignment CALCULATOR MESSAGE MY INSTRUCTOR FUILL SCREEN PRINTER VERSION BACK NEXT> ASSIGNMENT RESOURCES Brief Exercisc 8-12 Chapter9 The financial statements of Minnesota Mining and Manufacturing Company (3M) report net sales of $20.0 billion. Accounts receivable (net) are s2.7 billion at the beginning of the year and billion at the end of the year 2.8 Submission Compute 3M's accounts receivable turnover. (Round answer to 1 decimal place, e.g. 2.5.) Accounts Receivable Tunover times Compute 3M's average collection period for accounts receivable in days. (Round answer to o decimal places, e.g. 50. Use 365 days for calculation.) Average Collection Period Click if you would like to Show Work for this question: Open Show Work Review Results by days Question Attempts: O of 3 used SAVE FOR LATER SUBHIT ANSWER All Rights Reserved. A Division of Version 4.24.24 O Type here to search 11:42 PM 11/4/2017 4

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Dear Student Thank you for using Chegg Please find below the answer and please give thumbs up   Statementshowing Computations Paticulars Amount Beginning AR       2,700,000,000.00 Ending AR       2,800,000,000.00 Average AR = (2.7Bn + 2.8Bn)/2       2,750,000,000.00 Net Sales    20,000,000,000.00 Accounts receivable Turnover = 20bn/2.75bn                                  7.3 Average Collection period in days = 365/7.3                                   50

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