Partial balance sheets and additional information are listed below for Julius Company. Julius Company Partial Balance Sheets as of December 31 2021 2020 Assets Cash $20,000 $40,000 Accounts receivable 90,000 60,000 Inventory 40,000 25,000 Liabilities Accounts payable $72,000 $58,000 Additional information for 2021: Net income was $70,000. Depreciation expense was $30,000. Sales totaled $600,000. Cost of goods sold totaled $325,000. Required: Prepare the summary entry for the amount of cash received from customers during 2021. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet