Question: [3 points] Partial balance sheets and additional information are listed below for Julius Company. Additional information for 2024: Net income was $71,000. Depreciation expense was

[3 points] Partial balance sheets and additional information are listed below for Julius Company. Additional information for 2024: Net income was $71,000. Depreciation expense was $31,000. Sales totaled $601,000. Cost of goods sold totaled $326,000. Required: Prepare the summary entry for the amount of cash received from customers during 2024

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