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PB8-5 (Algo) Analyzing Allowance for Doubtful Accounts, Receivables Turnover Ratio, and Days to Collect [LO 8-4] Richardson Foods is well known for its fruit jams

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PB8-5 (Algo) Analyzing Allowance for Doubtful Accounts, Receivables Turnover Ratio, and Days to Collect [LO 8-4] Richardson Foods is well known for its fruit jams and Big Green Corporation is the company behind Green Giant canned vegetables. To evaluate their ability to collect on credit sales, consider the following rounded information in their annual reports (amounts in militions). Required: 1. Calculate the recelvables turnover ratios and days to collect for Richordson Foods and Big Green for the fiscal years ended in 201 and 2018. 2. Which of the companies is quicker to convert its recelvables into cash? Colculate the recelvables turnover ratios and days to collect for Richardson Foods and Big Green for the fiscal years ended in 2019 and 2018. (Use 365 days in a year. Round your answers to 1 decimal place. Use final rounded answers from Accounts Recelvable Turnover Ratio for Days to Coliect ratio calculation.) PB8-5 (Algo) Analyzing Allowance for Doubtful Accounts, Receivables Turnover Ratio, and Days to Collect [LO 8.4] Richardson Foods is well known for its fruit jams and Big Green Corporation is the company behind Green Giant canned vegetables. To evaluate their ability to collect on credit sales, consider the following rounded information in their annual reports (amounts in millions) Required: 1. Calculate the recelvables turnover ratios and days to collect for Richardson Foods and Big Green for the fiscal years ended in 2019 and 2018 2. Which of the companies is quicker to convert its recelvables into cash? Which of the companies is quicker to convert its receivables into cash

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