Confection Bakery Supply began the year with an Accounts Receivable balance of $25,000. Net sales (all on account) for the year amounted to $100,000 and no cash discount was offered. During the year, $70,000 was collected on accounts receivable. What is the accounts receivable turnover ratio? 1.3 times 2.5 times 1.8 times 4.0 times