Horton Housewares' accounts receivable decreased during the year by $5.5 million. Required: What is the amount of cash Horton received from customers during the reporting period if its sales were $40 million? Prepare a summary entry that represents the net effect of the selling and collection activities during the reporting period.

Complete this question by entering your answers in the tabs below. Cash Received General Journal What is the amount of cash Horton received from customers during the reporting period if its sales were $40 million? (Enter your answer in millions rounded to 1 decimal place (i.e., 5,500,000 should be entered as 5.5).) Cash million :X 1 decimal places required. Cash Received General Journal > Cash Received General Journal 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.) View transaction list Journal entry worksheet