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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 Softe 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 Net Sales 2017 2016 2018 2017 2016 $141,390 Accounts Receivable $ 45,980 $ 48,120 4,450 $ 84,048 Allowance for Doubtful Accounts $ 84,585 $.72,180 4,760 4,980 8,320 630 8,230 7,850 Accounts Receivable. Net of Allowance 620 610 100 130 140 3,820 4,140 4,370 8.220 8,100 7.710 Required: 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) 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 Req ZA Reg 28 Calculate the recevables 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 Softe Sodas Hayes Companies Companies Softe Sodas Receivables Turnover Ratio Days to collect ce Req2A > 7. ,344 14.32 points reldes > 42,200 >40, ILU POMUN0 Accounts Receivable 2,450 4,760 4,980 8,320 Allowance for Doubtful Accounts 630 620 610 100 Accounts Receivable, Net of Allowance 3,820 4,140 4,370 8,220 Required: 1. Calculate the receivables turnover ratios and days to collect for Hayes Companies and Softee Sodas for 2 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? eBook Print Complete this question by entering your answers in the tabs below. Reg 1 Reg 2A Reg 2B Which of the companies was quicker to convert its receivables into cash in 2018? Hayes Companies Softe Sodas 100 Required: 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? ok ht Complete this question by entering your answers in the tabs below. Reg 1 Reg 2A Req 2B Which of the companies was quicker to convert its receivables into cash in 2017? O Softe Sodas Hayes Companies 7. ,344 14.32 points reldes > 42,200 >40, ILU POMUN0 Accounts Receivable 2,450 4,760 4,980 8,320 Allowance for Doubtful Accounts 630 620 610 100 Accounts Receivable, Net of Allowance 3,820 4,140 4,370 8,220 Required: 1. Calculate the receivables turnover ratios and days to collect for Hayes Companies and Softee Sodas for 2 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? eBook Print Complete this question by entering your answers in the tabs below. Reg 1 Reg 2A Reg 2B Which of the companies was quicker to convert its receivables into cash in 2018? Hayes Companies Softe Sodas 100 Required: 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? ok ht Complete this question by entering your answers in the tabs below. Reg 1 Reg 2A Req 2B Which of the companies was quicker to convert its receivables into cash in 2017? O Softe Sodas Hayes Companies