Horton Housewares' accounts receivable decreased during the year by $17.0 million.

a.

What is the amount of cash Horton received from customers during the reporting period if its sales were $51.0 million? (Enter your answer in millions rounded to 1 decimal place (i.e., 5,500,000 should be entered as 5.5).)

b.

Prepare a summary entry that represents the net effect of the selling and collection activities during the reporting period. (Enter your answers in millions rounded to 1 decimal place (i.e., 5,500,000 should be entered as 5.5). If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Record the net effect of the selling and collection activities.

2. LaRoe Lawns inventory increased during the year by $7.3 million. Its accounts payable increased by $5.5 million during the same period.

a.

What is the amount of cash LaRoe paid to suppliers of merchandise during the reporting period if its cost of goods sold was $60.0 million? (Enter your answer in millions rounded to 1 decimal place (i.e., 5,500,000 should be entered as 5.5).)

b.

Prepare a summary entry that represents the net effect of merchandise purchases during the reporting period. (Enter your answers in millions rounded to 1 decimal place (i.e., 5,500,000 should be entered as 5.5). If no entry is required for an event, select "No journal entry required" in the first account field.) Record the net effect of merchandise purchases.