A $72,000 Receipt of Cash from a Customer Paying on Their

Multiple Choice

A $72,000 receipt of cash from a customer paying on their account was recorded as a $72,000 debit to Accounts Receivable.Assuming this journal entry was posted,what correcting entry (if any) is needed?

A) Debit Cash and credit Accounts Receivable for $72,000 each.
B) Debit Cash and credit Accounts Receivable for $144,000 each.
C) Credit Cash and debit Accounts Receivable for $72,000 each.
D) Credit Cash and debit Accounts Receivable for $144,000 each.
E) No correcting entry is needed for this transaction.