Question: with complete solutions, journal entry (if ever) and answer. The following information is taken from the 2020 general ledger of Robinson Company: Sales revenue 18,000,000
The following information is taken from the 2020 general ledger of Robinson Company: Sales revenue 18,000,000 Accounts receivable, Jan. 1 1,500,000 Accounts receivable, Dec. 31 800,000 In the cash flow statement, how much will be presented as collections from customers during 2020? Rent expense Prepaid rent, January 1 Prepaid rent, December 31 3,100,000 500,000 720,000 How much cash payment for rental will be presented under operating activities? Salaries expense Salaries payable, January 1 Salaries payable, Dec. 31 5,400,000 50,000 120,000 How much cash payment for salaries will be presented under operating activities? 1.4 Commission income Unearned commission, Jan. 1 Unearned commission, Dec. 31 2,000,000 320,000 190,000 How much commission was collected during the year
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