Question: I don't know why I am wrong on these two blanks. Could you please help me on these two blanks? Appreciate it ? https://v2.cengagenow.com/ilrn/takeAssignment/takeAssignmentMain.do?invoker=assignments&takeAssignmentSessionLocator=assignment-take&inprogress=false Chapter
I don't know why I am wrong on these two blanks. Could you please help me on these two blanks? Appreciate it ?


https://v2.cengagenow.com/ilrn/takeAssignment/takeAssignmentMain.do?invoker=assignments&takeAssignmentSessionLocator=assignment-take&inprogress=false Chapter 5 Homework eBook Calculator Income Statement accounts: Revenues - Expenses = Net Income. 1. PR.05.07A (Equations must stay in balance) 4) Record receipt of cash (increase) for sales revenue (increase). 2. PR.05.08A 5) Record collection of accounts receivable for 2012 sales with receipt of cash (increase) with collection of accounts receivable (decrease). 3. DC.07.03 How does this entry affect the accounting equation? 4. DC.07.04 If a financial statement item is not affected, select "No Entry" and leave the amount box blank or enter "0". If the effect is negative, use the minus sign. Balance Sheet Income Statement Stockholders' Assets Liabilities Equity Revenues Expenses Cash v 6,076 X No Entry v No Entry V 0 No Entry v Accounts Receivable v 6,076 X No Entry v 0 O V No Entry v 0 No Entry V Feedback Check My Work rtially correct 2. Walgreens Boots Alliance sets forth net sales but not gross sales on its income statement. What type(s) of deduction(s) would be made from gross sales to arrive at the amount of net sales reported? Sales returns and allowances v Feedback Check My Work
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