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Question 22: A business sells goods for $35,000 in cash. Requirements: 1. Record the journal entry to recognize the sale of goods. 2. Post the

Question 22:

A business sells goods for $35,000 in cash.

Requirements:

1. Record the journal entry to recognize the sale of goods.

2. Post the journal entry to the Sales Revenue account in the ledger.

3. Calculate the total amount of cash received from the sale.

4. Analyze how this transaction affects the company's income statement.

5. Discuss strategies for managing cash generated from sales.

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