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The company sold inventory that cost $14,000,000 for a total of $22,000000 of that,$17,000,000 was received in cash and $5,000,000 was on account (that is,

  1. The company sold inventory that cost $14,000,000 for a total of $22,000000 of that,$17,000,000 was received in cash and $5,000,000 was on account (that is, added to Accounts Receivable).

How would I record this in a journal entry? How would I record this in the ledger? Do I record the debit as a negative in the ledger? Can you upload the answer in Excel?

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