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Super-Cola and Popinski 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).
Super-Cola
Popinski
Fiscal Year Ended:
2012
2011
2010
Net Sales
$ 35,419
$ 31,490
$ 32,444
$ 58,338
$ 43,732
$ 43,751
Accounts Receivable
4,488
3,823
3,151
6,477
4,724
3,794
Allowance for Doubtful Accounts
49
56
52
145
91
71
Accounts Receivable, Net of Allowance
4,439
3,767
3,099
6,332
4,633
3,723
Required:
Calculate the receivables turnover ratios and days to collect for Super-Cola and Popinski for 2012 and 2011. (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.)
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