National, Inc. provides the following data: 20252024Cash$43,000$25,000Accounts Receivable, Net98,00062,000Merchandise Inventory70,00050,000Property, Plant, and Equipment, Net200,000120,000Total Assets$411,000$257,000 For the year ending December 31, 2025:Net Credit Sales$260,000Cost of Goods Sold(150,000)Gross Profit$110,000 Calculate the accounts receivable turnover ratio for 2025. (Round your answer to two decimal places.)

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FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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National, Inc. provides the following data:

	2025	2024
Cash	$43,000	$25,000
Accounts Receivable, Net	98,000	62,000
Merchandise Inventory	70,000	50,000
Property, Plant, and Equipment, Net	200,000	120,000
Total Assets	$411,000	$257,000

For the year ending December 31, 2025:

Net Credit Sales	$260,000
Cost of Goods Sold	(150,000)
Gross Profit	$110,000

Calculate the accounts receivable turnover ratio for 2025. (Round your answer to two decimal places.)

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