On January 1,2011,Company X Had Accounts Receivable of $20,000

Multiple Choice

On January 1,2011,Company X had accounts receivable of $20,000.During the year,Company X sold $100,000 of merchandise to credit customers.At December 31,2011,Company X had accounts receivable of $50,000.How much cash did the company collect from credit customers during the year?

A) $130,000
B) $120,000
C) $100,000
D) $70,000