April Wood Products accounts receivable increased during the year by $4 million. What is the amount of

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April Wood Products’ accounts receivable increased during the year by $4 million. What is the amount of cash April Wood Products received from customers during the reporting period if its sales were $44 million? Prepare a summary entry that represents the net effect of the selling and collection activities during the reporting period.

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Intermediate Accounting

ISBN: 9781259722660

9th Edition

Authors: J. David Spiceland, James Sepe, Mark Nelson, Wayne Thomas

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