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Consider the three independent situations below (amounts are $ in millions): Required: 1. Calculate cash received from customers. (Enter your answers in millions (i.e., $10,100,000
Consider the three independent situations below (amounts are $ in millions): Required: 1. Calculate cash received from customers. (Enter your answers in millions (i.e., $10,100,000 should be entered as 10.1).) Situation Sale Revenue Cash Received from Customers Accounts Receivable Increase (Decrease) 0 30 (30) 1. 2. 200 200 200 3. 2. Prepare the summary journal entry for each situation. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field. Enter your answers in millions (i.e., $10,100,000 should be entered as 10.1).) View transaction list Journal entry worksheet 1 2. 2 3 > Record the receipt of cash from customers. Note: Enter debits before credits. General Journal Debit Credit Transaction 1 Record entry Clear entry View general journal
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