CP8-5 (Algo) Analyzing Allowance for Doubtful Accounts, Receivables Turnover Ratio, and Days to Collect [LO 8-4] Washington Manufacturing and Robinson Robots are two of the largest and most successful toymakers in the world, in terms of the products they sell and their recelvables management practices. To evaluate their ability to collect on credit sales, consider the following information reported in their annual reports (amounts in millions). Required: 1. Calculate the receivables turnover ratios and days to collect for Washington and Robinson for 2018 and 2017. TIP: In your calculations, use average Accounts Recelvable, Net of Allowance. 2-a. Which of the companies was quicker to convert its recelvables into cash in 2018 ? 2-b. Which of the companies was quicker to convert its recelvables into cash in 2017? CP8-5 (Algo) Analyzing Allowance for Doubtful Accounts, Receivables Turnover Ratio, and Days to Collect [LO 8-4] Washington Manufacturing and Robinson Robots are two of the largest and most successful toymakers in the world, in terms of the products they sell and their recelvables management practices. To evaluate their ability to collect on credit sales, consider the following information reported in their annual reports (amounts in millions). Required: 1. Calculate the receivables turnover ratios and days to collect for Washington and Robinson for 2018 and 2017. TIP: In your calculations, use average Accounts Recelvable, Net of Allowance. 2-a. Which of the companies was quicker to convert its recelvables into cash in 2018 ? 2-b. Which of the companies was quicker to convert its recelvables into cash in 2017