Required: 1. Calculate the receivables turnover ratios and days to collect for Softee Sodas and Patterson Beverage Company 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?

PA8-5 (Algo) Analyzing Allowance for Doubtful Accounts, Receivables Turnover Ratio, and Days to Collect (LO 8-4) Softee Sodas and Patterson 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). Fiscal Year Ended: Net Sales Accounts Receivable Allowance for Doubtful Accounts Accounts Receivable, Net of Allowance 2018 $ 42,160 4,490 640 3,850 Softee Sodas 2017 $ 46,840 4,810 630 4,180 2016 $ 48,600 5,030 620 4,410 Patterson Beverage O 2018 2017 $ 85,696 $ 86,240 8,400 8,310 100 130 8,300 8,180 Required: 1. Calculate the receivables turnover ratios and days to collect for Softee Sodas and Patterson Beverage Company 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. 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 Softee Sodas and Patterson 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.) 2018 2017 Softee Sodas Softee Sodas Patterson Beverage Company 9.6 Patterson Beverage Company 9.7 10.5 9.9 Receivables Turnover Ratio Days to collect 35.0 38.0 37.9 38.0 Reg 1 Req 2A 1. Calculate the receivables turnover ratios and days to collect for Softee Sodas and Patterson Beverage Company 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 the tabs below. Req 1 Req 2A Req 2B Which of the companies was quicker to convert its receivables into cash in 2017? O Patterson Beverage Company Softee Sodas Req 2A Reg 28 PA8-5 (Algo) Analyzing Allowance for Doubtful Accounts, Receivables Turnover Ratio, and Days to Collect (LO 8-4) Softee Sodas and Patterson 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). Fiscal Year Ended: Net Sales Accounts Receivable Allowance for Doubtful Accounts Accounts Receivable, Net of Allowance 2018 $ 42,160 4,490 640 3,850 Softee Sodas 2017 $ 46,840 4,810 630 4,180 2016 $ 48,600 5,030 620 4,410 Patterson Beverage O 2018 2017 $ 85,696 $ 86,240 8,400 8,310 100 130 8,300 8,180 Required: 1. Calculate the receivables turnover ratios and days to collect for Softee Sodas and Patterson Beverage Company 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. 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 Softee Sodas and Patterson 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.) 2018 2017 Softee Sodas Softee Sodas Patterson Beverage Company 9.6 Patterson Beverage Company 9.7 10.5 9.9 Receivables Turnover Ratio Days to collect 35.0 38.0 37.9 38.0 Reg 1 Req 2A 1. Calculate the receivables turnover ratios and days to collect for Softee Sodas and Patterson Beverage Company 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 the tabs below. Req 1 Req 2A Req 2B Which of the companies was quicker to convert its receivables into cash in 2017? O Patterson Beverage Company Softee Sodas Req 2A Reg 28