Question: Partial balance sheets and additional information are listed below for Funk Company. 34 5/10 points awarded Tunk Company Partial Balance Sheets as of December 31

 Partial balance sheets and additional information are listed below for Funk

Partial balance sheets and additional information are listed below for Funk Company. 34 5/10 points awarded Tunk Company Partial Balance Sheets as of December 31 2021 2020 Assets Cash $36,000 $18,000 Accounts receivable 92,000 88,400 Inventory 23,000 36,000 Liabilities Accounts payable $56,000 $68,000 Scored Additional information for 2021 Net income was $166,000. Depreciation expense was $26,000. Sales totaled $760,000. Cost of goods sold totaled $321000. Required: Prepare the summary entry for the amount of cash received from customers during 2021. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) General Journal Credit No 1 Event 1 Debit 756,400 Cash Accounts receivable 756,400 x *Red text indicates no response was expected in a celor a formule-based calculation is incorred; no points deducted

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