Horton Housewares' accounts receivable decreased during the year by $15.0 million. Required: What is the amount...
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Horton Housewares' accounts receivable decreased during the year by $15.0 million. Required: What is the amount of cash Horton received from customers during the reporting period if its sales were $54 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. General Cash Received Journal What is the amount of cash Horton received from customers during the reporting period if its sales were $54 million? (Enter your answer in millions rounded to 1 decimal place (i.e., 5,500,000 should be entered as 5.5).) Cash million < Cash Received General Journal > General Cash Received 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 1 > Record the net effect of the selling and collection activities. Note: Enter debits before credits. Event General Journal Debit Credit 1 Record entry Clear entry View general journal < Cash Received General Journal > Horton Housewares' accounts receivable decreased during the year by $15.0 million. Required: What is the amount of cash Horton received from customers during the reporting period if its sales were $54 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. General Cash Received Journal What is the amount of cash Horton received from customers during the reporting period if its sales were $54 million? (Enter your answer in millions rounded to 1 decimal place (i.e., 5,500,000 should be entered as 5.5).) Cash million < Cash Received General Journal > General Cash Received 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 1 > Record the net effect of the selling and collection activities. Note: Enter debits before credits. Event General Journal Debit Credit 1 Record entry Clear entry View general journal < Cash Received General Journal >
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Answer rating: 100% (QA)
Required 1 Cash received Total sales Decrease in accounts receivable 540 ... View the full answer
Related Book For
Intermediate Accounting
ISBN: 978-0077400163
6th edition
Authors: J. David Spiceland, James Sepe, Mark Nelson
Posted Date:
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