Question: help! it keeps saying my answers are wrong... Cola Inc. and Soda Co are two of the largest and most successful beverage companies in the
Cola Inc. and Soda Co 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 famounts in millions). Tancal Year Ended: Net Sales Accounts Receivable Allowance for Doubtful Accounta secounts Receivable. Net of Allowance Cola Inc. 2015 2014 2013 $30,319 $25,690 $26.944 4.378 3,713 3,041 38 45 41 4.340 3,568 3,000 Soda Co. 2015 2014 2013 552,448 $38,232 $38,251 6,367 4,614 3,684 134 80 60 4,534 3,624 Required: 1. Calculate the receivables turnover ratios and days to collect for Cola Inc. and Soda Co. for 2015 and 2014. (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.) Answer is complete but not entirely correct. 2015 2014 Cola Inc Soda Co. Cola Inc Soda Co 7.6 7.73 9.7 9.4 480 47.4 X 3763 38.8 Receivables Tumover | Ratio Days to collect
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