Answer
Accounts Receivable.......................................... 100,000 …………...Sales..................................................................... 100,000
Cash......................................................................... 80,000
…………...Accounts Receivable……...................................... 80,000
Work Step by Step
Debit accounts receivable to reflect sales on account (100,000) and credit sales (100,000). Then acknowledge collection of accounts receivable by debiting cash (80,000) and crediting accounts receivable (80, 000).
