Question: PROBLEM 1B: Use the facts from Problem 1A, but this time credit collection of the cash advance to Revenue in the initial entry. What entry

PROBLEM 1B: Use the facts from Problem 1A, but this time

PROBLEM 1B: Use the facts from Problem 1A, but this time credit collection of the cash advance to Revenue in the initial entry. What entry is recorded upon receipt of the cash? What adjusting entry is made at year end

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