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The 2006 financial statements of MM Company report net sales of $38.7 billion. Accounts receivable (net) are $3.1 billion at the beginning of the year and $3.6 billion at the end of the year. Compute MM's receivables turnover ratio. Compute MM's average collection period for accounts receivable in days.

Receivables turnover ratio times
Average collection period days

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Category:- Accounting Basics
Reference No.:- M9974339

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