Horton Housewares' accounts receivable decreased during the year by $$20\mathrm{.}0$ million.

Required:

What is the amount of cash Horton received from customers during the reporting period if its sales were $$63$ million? Prepare a summary entry that represents the net effect of the selling and collection activities during the reporting period.

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What is the amount of cash Horton received from customers during the reporting period if its sales were $$63$ million?

Note: Enter your answer in millions rounded to $1$ decimal place $($i$.$e$.,5,500,000$ should be entered as $5\mathrm{.}5).$

Cash

million

References

Cash Received

General Journal