Presented below is information for metlock company.
1. beginning-of-the-year accounts receivable balance was $22,700.
2. net sales (all on account) for the year were $101,600. metlock does not offer cash discounts.
3. collections on accounts receivable during the year were $82,300.
prepare (summary) journal entries to record the items noted above

The Journal entries are as follows:

(1) For Opening Balance Journal entry Not Required

(2) Net sales (all on account) for the year were $101,600. Metlock does not offer cash discounts,

Accounts Receivable A/c  Dr. $101,600

To Sales A/c                                            $101,600

(To record sales on account)

(3) Collections on accounts receivable during the year were $82,300,

Cash A/c                      Dr. $82,300

To Accounts Receivable                 $82,300

(To record the receipt of accounts receivable)

odd consecutive integers are odd integers that follow each other. they have a difference of 2 between every two numbers. if n is an odd integer, then n, n+2, n+4 and n+6 will be odd consecutive integers. the first number in the pattern is always the variable on its own or in this case, "n". examples.