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). Coca-Cola PepsiCo Fiscal Year Ended: 2020 2019 2018 2020 2019 2018 Net Sales $31,684 $36,857 $25,888 $52,251 $46,674 $36,937 Accounts Receivable Allowance for Doubtful Accounts 3,221 73 3,443 74 2,830 81 3,964 88 3,850 87 3,327 82 Accounts Receivable, Net of Allowance 3,148 3,369 2,749 3,876 3,763 3,245 Required: 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 times times Days to collect days days 2019 Coca-Cola PepsiCo times Receivables turnover ratio times Days to collect days days 2. Which of the companies is quicker to convert its receivables into cash? PepsiCo Coca-Cola