Coca-Cola and PepsiCo are two of the largest and most successful beverage companies in the world in terms of the products that they sell and their receivables management practices. To evaluate their ability to collect on credit sales, consider the following information assumed to have been reported in their 2020, 2019, and 2018 annual reports (amounts in millions). Fiscal Year Ended: Net Sales Accounts Receivable Allowance for Doubtful Accounts Accounts Receivable, Net of Allowance Required: Coca-Cola PepsiCo 2020 2019 2018 2020 2019 2018 $32,144 $34,857 $25,688 $43,551 $45,874 $36,737 3,201 71 3,423 72 2,810 79 3,944 86 3,830 85 3,307 80 3,130 3,351 2,731 3,858 3,745 3,227 1. Calculate the receivables turnover ratios and days to collect for Coca-Cola and PepsiCo for 2020 and 2019. (Consider a 365 days a year. Round your intermediate answers and final answers to 1 decimal place.) 2020 Coca-Cola PepsiCo Receivables turnover ratio Days to collect times times days days 2019 Receivables turnover ratio Days to collect Coca-Cola PepsiCo times times days days 2. Which of the companies is quicker to convert its receivables into cash? PepsiCo Coca-Cola