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8) For each of the three independent situations determine the amount of cash received from the customers and prepare journal entries that summarize the selling
8)
For each of the three independent situations determine the amount of cash received from the customers and prepare journal entries that summarize the selling and collection activities for the reporting period. All dollars are in millions. Complete this question by entering your answers in the tabs below. Cash Recd from Cust General Journal Determine the amount of cash received from the customers. (Enter your answers in millions (l.e., 10,000,00 entered as 10).) Situation Sales Revenue Accounts Receivable Increase (Decrease) Cash Received from Customers 170 170 170 (23) Cash Recd from Cust General Journal Prepare journal entries that summarize the selling and collection activities for the reporting period. (If no ent transaction/event, select "No journal entry required" in the first account field. Enter your answers in millions entered as 10).) View transaction list Journal entry worksheet Step by Step Solution
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