Question: Horton Housewares accounts receivable decreased during the year

Horton Housewares' accounts receivable decreased during the year by $5 million. What is the amount of cash Horton received from customers during the reporting period if its sales were $33 million? Prepare a summary entry that represents the net effect of the selling and collection activities during the reporting period.


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  • CreatedJuly 11, 2013
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