Required information [The following information applies to the questions displayed below.] Ravenna Company is a merchandiser that uses the indirect method to prepare the operating activities section of its statement of cash flows. Its balance sheet for this year is as follows: Ending Balance Beginning Inventory Cash Accounts receivable Total current assets Property, plant, and equipment Less accumulated depreciation $ 97,200 Balance $116,700 77,600 83,600 104,200 95,000 279,000 295,300 276,000 266,000 92,000 66,500 Net property, plant, and equipment 184,000 199,500 Total assets $ 463,000 $494,800 Accounts payable $ 60,800 $108,000 Income taxes payable 47,200 62,800 Bonds payable 114,000 95,000. Common stock 133,000 114,000 Retained earnings 108,000 115,000 Total liabilities and stockholders' equity 5 463,000 $494,800 During the year, Ravenna paid a $11,400 cash dividend and it sold a piece of equipment for $5,700 that had originally cost $13,200 and had accumulated depreciation of $8,800. The company did not retire any bonds or repurchase any of its own common stock during the year. 4-a. If the company debited Accounts Receivable and credited Sales for $1,140,000 during the year, what is the total amount of credits recorded in Accounts Receivable during the year? 4-b. What does the amount of these credits represent?