Information follows for a company:

1.The beginning-of-the-year Accounts Receivable balance was $25,600.

2.Net sales for the year were $422,700. (Credit sales were $217,600 of the total sales.) The company does not offer cash discounts.

3.Collections on accounts receivable during the year were $137,700.

Please help/guide me to prepare summary journal entries to record the items noted above.