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7 14.32 points PA8-5 (Algo) Analyzing Allowance for Doubtful Accounts, Receivables Turnover Ratio, and Days to Collect [LO 8-4) Cola Incorporated and Soda Company 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 rounded amounts reported in their annual reports (amounts in millions) Cola Incorporated Fiscal Year Ended: Soda Company 2018 2017 2016 2018 2017 $3,400 $ 42,610 $ 46, 240 $ 77,616 $ 28,125 Accounts Receivable 7,910 Allowance for Doubtful Accounts 590 Accounts Receivable, Net of Allowance 3,700 3,980 4.210 eBook Net Sales 4.290 4,560 580 4,780 570 2016 $269,370 7.530 140 7,390 8.000 100 7.900 Print 130 7.780 Required: 1. Calculate the receivables turnover ratios and days to collect for Cola Incorporated and Soda Company for 2018 and 2017 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. Reg 1 Reg 2A Reg 20 Calculate the receivables turnover ratios and days to collect for Cola incorporated and Soda Company for 2018 and 2017. (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) Show less 2018 2017 Cola Soda Incorporated Company Soda Cola Incorporated Company Receivables Tumover Ratio Days to collect Reg 2A > 7 PA8-5 (Algo) Analyzing Allowance for Doubtful Accounts, Receivables Turnover Ratio, and Days to Collect (LO 8-4) 14.32 points eBook Cola Incorporated and Sodo Company 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 rounded amounts reported in their annual reports (amounts in millions) Cola Incorporated Soda Company Fiscal Year Ended: 2018 2017 2016 2018 2017 2016 Net Salon $ 38,400 $ 42.610 $ 46,240 $77.616 $ 78,125 $ 69.370 Accounts Receivable 4.290 4.560 4,780 8.000 7,910 7,530 Allowance for Doubtful Mccounts 590 580 570 100 140 Accounts Receivable, Net of Allowance 3,700 3,980 4,210 7.900 7.780 7.390 Required: 1. Calculate the receivables turnover ratios and days to collect for Cola Incorporated and Soda Company for 2018 and 2017 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? 130 Print Complete this question by entering your answers in the tabs below. Req 1 RIA 2A Reg 28 Which of the companies was quicker to convert its receivables into cash in 2018? Cola Incorporated Soda Company 7 PA8-5 (Algo) Analyzing Allowance for Doubtful Accounts, Receivables Turnover Ratio, and Days to Collect [LO 8-4) 14.32 points Cola Incorporated and Soda Company 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 soles, consider the following rounded amounts reported in their annual reports famounts in millions) . 2016 $ 69,370 2,530 140 7.390 Pint Cole Theorporated Fiscal Year Ended Soda Company 2018 2011 2016 2010 2017 Not Sales 50.400 5246, 240 570.123 Accounts Receivable 2,290 4.560 4,70 0,000 7.919 Allowance for Doubtful Accounts 580 570 recounts Receivable, Net of Allowance 3,700 3.900 4.210 7.900 7.780 Required: 1. Calculate the receivables turnover ratios and days to collect for Cold Incorporated and Soda Company for 2018 and 2017 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. Reg 1 Reg 2A Red which of the companies was quicker to convert its receivables into cash in 2017? Soda Company Cola incorporated