week 5 questions

question20-week5.xlsx

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Function: AVERAGE; Formula: Divide; Cell Referencing
Some cells are merged.
Using Excel to Assess Accounts Receivable				Student Work Area
PROBLEM				Required: Provide input into cells shaded in yellow in this template. Use the AVERAGE function with cell references in calculating the turnover. Use cell references with mathematical formulas to calculate the average collection period.
The 2022 financial statements of 3M Company reported the following amounts.
	Net sales	$ 23.1	billion
	Accounts receivable, net			Compute 3M’s accounts receivable turnover and the average collection period in days.
	Beginning of year	3.20	billion
	End of year	3.25	billion
				Accounts receivable turnover
					Author: Answer Field 53.8% of your score. Function: AVERAGE; Formula: Divide; Cell reference. First, use the AVERAGE function with cell referencing to the Problem area to determine the denominator. Then insert the numerator as a cell reference between the equal sign and the AVERAGE function.	Author: Answer Field 15.4% of your score. Text. Type the text that is the denomination in which this ratio is expressed.	Average collection period
					Author: Answer Field 15.4% of your score. Formula: Divide; Cell reference. Input a mathematical formula using cell-referencing to the respective amounts in the Problem Area.	Author: Answer Field 15.4% of your score. Text. Type the text that is the denomination in which this ratio is expressed.