Presented below is information for Blue Company 1. 2. Beginning of-the-year Accounts Receivable balance was $18,700. Net sales (all on account) for the year were $106,300. Blue does not offer cash discounts. Collections on accounts receivable during the year were $88,700. 3. Prepare (summary) journal entries to record the items noted above. (If no entry is required, select "No Entry for the account titles and enter for the amounts. Credit account titles are automatically Indented when the amount is entered. Do not Indent manually) No. Account Titles and Explanation Debit Credit 1. 2. 3