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4) For each of the three independent situations below, prepare journal entries that summarize the selling and collection activities for the reporting period in order
4) For each of the three independent situations below, prepare journal entries that summarize the selling and collection activities for the reporting period in order to determine the amount of cash received from customers and to explain the change in each account shown. All dollars are in millions. Situation Sales Revenue Accounts Receivable Increase (Decrease) Cash Received from CustomersSituation 1 General Journal Debit Credit Situation 2 Situation 3
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