CP8-5 (Algo) Analyzing Allowance for Doubtful Accounts, Receivables Turnover Ratio, and Days to Collect [LO 8-4] Mathis Incorporated and Hashey Companies are two of the largest and most successful toymakers in the world, in terms of the products they sell and their receivables management practices. To evaluate their ability to collect on credit sales, consider the following information reported in their annual reports (amounts in millions). Hashey Fiscal Year Ended: Net Sales Accounts Receivable Allowance for Doubtful Accounts Accounts Receivable, Net of Allowance Required: 2018 Mathis 2017 2016 $ 6,056 $ 5,631 1,178 23 1,155 $ 6,118 784 910 26 27 2018 $ 4,202 1,002 32 2017 $ 4,268 1,082 34 2016 $ 4,222 654 758 883 970 1,048 33 621 1. Calculate the receivables turnover ratios and days to collect for Mathis and Hashey for 2018 and 2017. TIP: In your calculations, use average Accounts Receivable, Net of Allowance. 2-a. Which of the companies was quicker to convert its receivables into cash in 2018? 2-b. Which of the companies was quicker to convert its receivables into cash in 2017? Complete this question by entering your answers in the tabs below. Req 1 Req 2A Req 28 Calculate the receivables turnover ratios and days to collect for Mathis and Hashey for 2018 and 2017. TIP: In your calculations, use average Accounts Receivable, Net of Allowance. (Use 365 days in a year. Do not round intermediate calculations on Accounts Receivable Turnover Ratio. Round your final answers to 1 decimal place. Use final rounded answers from Accounts Receivable Turnover Ratio for Days to Collect ratio calculation.) 2018 2017 Mathis Hashey Mathis Hashey Receivables Turnover Ratio Days to Collect Show less A