On January 1, 2011, Company X had accounts receivable of $20,000. During the year, Company X sold $100,000 of merchandise to credit customers. At December 31, 2011, Company X had accounts receivable of $50,000. How much cash did the company collect from credit customers during the year?

A.

$120,000

B.

$130,000

C.

$70,000

D.

$100,000