Exercise $21-4($Algo$)$ Summary entries for cash received from customers $[$LO$21-3]$

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.

Determine the amount of cash received from the customers.

Note: Enter your answers in millions $($i$.$e$.,10,000,000$ should be entered as $10).$

$\backslash$table$[[$Situation$,\backslash$table$[[$Sales$],[$Revenue$]],\backslash$table$[[$Accounts Receivable$],[$Increase $($Decrease$)]],\backslash$table$[[$Cash Received from$],[$Customers$]]],[1,235,0,],[2,235,16,],[3,235,(16),]]$

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

General

from Cust

Journal

Prepare journal entries that summarize the selling and collection activities for the reporting period.

Note: If no entry is required for a transaction$/$event$,$ select $"$No journal entry required" in the first account field. Enter your answers in millions $($i$.$e$.,10,000,000$ should be entered as $10).$

Journal entry worksheet

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