PA8-5 (Algo) Analyzing Allowance for Doubtful Accounts, Receivables Turnover Ratio, and Days to Collect [LO 8-4) Kapoor Cola Corporation and CCK Beverage 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). Kapoor Cola Corporation CCK Beverage Company Fiscal Year Ended: 2018 2017 2016 2018 2012 2016 Net Sales $ 43,760 $.48,580 $ 49,580 $ 89,040 $ 89,595 $ 74,370 Accounts Receivable 4,530 4,910 5,130 8,560 8,470 8,090 Allowance for Doubtful Accounts 660 650 640 100 130 140 Accounts Receivable, Net of Allowance 3,920 4,260 4.490 8,460 8,340 7,950 Required: 1. Calculate the receivables turnover ratios and days to collect for Kapoor Cola Corporation and CCK Beverage Company for 2018 and 2017 2-o. 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. to search a 53" FFD 400 Complete this question by entering your answers in the tabs below. Reg 1 Req 2A Reg 28 Calculate the receivables turnover ratios and days to collect for Kapoor Cola Corporation and CCK Beverage 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 Receivables Turnover Radio Days to collect Kapoor Cola CCK Beveragt Kapoor Cola CCK Beverago Corporation Company Corporation Company 95104 99 10.6 384 351 369344 RE Req ZA >