PA8-5 (Algo) Analyzing Allowance for Doubtful Accounts, Receivables Turnover Ratio, and Days to Collect [LO 8-4] Soda Company and HBB Beverages 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). Fiscal Year Ended: Net Sales Accounts Receivable Allowance for Doubtful Accounts Accounts Receivable, Net of Allowance Required: 2018 $ 39,140 4,330 600 3,730 Soda Company 2017 $ 43,440 4,610 590 4,020 2016 2018 $ 46,700 4,830 580 4,250 $ 79,200 8,080 100 HBB Beverages 2017 $ 79,715 7,990 130 2016 $ 70,060 7,610 140 7,980 7,860 7,470 1. Calculate the receivables turnover ratios and days to collect for Soda Company and HBB Beverages 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? Req 1 Req 2A Req 2B Calculate the receivables turnover ratios and days to collect for Soda Compal and HBB Beverages 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.) Receivables Turnover Ratio Days to collect 2018 2017 Soda Company HBB Beverages Soda Company HBB Beverages 10.5 10.0 10.9 10.1 34.8 36.5 33.5 36.1