FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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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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