Homework Answers
The correct amount is $141,000
Complete Solution
| Date | Accounts | Debit | Credit |
| a | Cash | $ 141,000.00 | |
| Accounts receivable | $ 141,000.00 | ||
| (To record collection on accounts) |
Cash has increased hence cash is debited. The decrease in accounts receivable is recorded by a credit in accounts receivable.
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