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PA8-5 (Algo) Analyzing Allowance for Doubtful Accounts, Receivables Turnover Ratio, and Days to Collect [LO 8-4) Hayes Companies and Softee Sodas 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: Hayes Companies Softee Sodas 2018 2017 2016 2018 2017 Net Sales 2016 $ 41,390 5.45,980 Accounts Receivable $ 48,120 $ 84,048 $ 84,585 $ 22, 180 4,450 Allowance for Doubtful Accounts 4,760 4.980 8,320 8,230 7,850 610 Accounts Receivable, Net of Allowance 3,820 4,140 4,370 8,220 8,100 7.710 Required: 630 620 100 130 140 1. Calculate the receivables turnover ratios and days to collect for Hayes Companies and Softee Sodas for 2018 and 2017 2-a. Which of the companies was quicker to convert its receivables into cash in 2018? 2-6. 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 2 Reg 20 Calculate the receivables turnover ratios and days to collect for Hayes Companies and Softee Sodas 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 Ratin for event 1. Calculate the receivables turnover ratios and days to collect for Hayes Companies and Softee Sodas 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 28 Calculate the receivables turnover ratios and days to collect for Hayes Companies and Softee Sodas 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 Hayes Companies Softe Sodas Hayes Companies Softee Sodas Receivables Tumover Ratio Days to collect Reg 2A >