Using the following information, compute the missing information. Prepare T-accounts to help. How does the normal balance of the account affect your solution?

Cash Account Receivable

Cash Accounts Receivable Beginning balance	$ 10,000	Beginning balance	$ 25,000
Receipts	?	Revenue on account	240,000
Payments	150,000	Collections on account	?
Ending balance	$ 20,000	Ending balance	$ 21,000