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The beginning-of-the-year Accounts Receivable balance was $32,500. Net sales for the year were...

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Accounting

The beginning-of-the-year Accounts Receivable balance was $32,500.
Net sales for the year were $510,000.(Credit sales were $240,000 of the total sales.) Oriole does not offer cash discounts.
Collections on accounts receivable during the year were $180,000.
(a)
Prepare summary journal entries to record the items noted above. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no ent) Entry" for the account titles and enter 0 for the amounts. List all debit entries before credit entries.)
Account Titles and Explanation
Debit
Credit
(To record sales revenue)
(To record collection on accounts)
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