PA8-5 (Algo) Analyzing Allowance for Doubtful Accounts, Receivables Turnover Ratio, and Days to Collect [LO 8-4] Patterson Beverage Company and Kapoor Cola Corporation 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: Patterson Beverage Company Kapoor Cola Corporation 2018 $ 42,930 2017 $ 47,710 4,530 650 3,880 4,860 640 4,220 2016 $ 49,090 5,080 630 2018 $ 87,360 8,480 100 2017 $ 87,910 2016 8,390 130 $ 73,630 8,010 140 4,450 8,380 8,260 7,870 1. Calculate the receivables turnover ratios and days to collect for Patterson Beverage Company and Kapoor Cola Corporation 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. Req 1 Req 2A Req 2B Calculate the receivables turnover ratios and days to collect for Patterson Beverage Company and Kapoor Cola Corporation 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 Complete this question by entering your answers in the tabs below. Req 1 Req 2A Req 2B Calculate the receivables turnover ratios and days to collect for Patterson Beverage Company and Kapoor Cola Corporation 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.) 2018 2017 Patterson Patterson Beverage Kapoor Cola Corporation Beverage Kapoor Cola Corporation Company Company Receivables Turnover Ratio Days to collect Req 1 Req 2A > Show less Complete this question by entering your answers in the tabs below. Req 1 Req 2A Req 2B Which of the companies was quicker to convert its receivables into cash in 2018? OPatterson Beverage Company OKapoor Cola Corporation < Req 1 Req 2B > Complete this question by entering your answers in the tabs below. Req 1 Req 2A Req 2B Which of the companies was quicker to convert its receivables into cash in 2017? OKapoor Cola Corporation OPatterson Beverage Company < Req 2A Req 2B >