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:	2020	2019	2018	2020	2019	2018
Net Sales	$	31,884		$	28,957		$	24,488		$	45,251		$	41,074		$	35,537
Accounts Receivable		3,181			3,428			2,690			3,824			3,710			3,187
Allowance for Doubtful Accounts		59			60			67			74			73			68
Accounts Receivable, Net of Allowance		3,122			3,368			2,623			3,750			3,637			3,119

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

Receivables turnover ratio times times

Days to collect

Which of the companies is quicker to convert its receivables into cash?