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Prepare the Summary Entries Necessary to Determine the Amount of Cash

Question 182

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Prepare the summary entries necessary to determine the amount of cash received from customers for each of the four independent situations below.  Situation  Sales  revenue  Accounts  receivable  incr.  (decr.)  Cash  received  from  customers 1200,00010,000?2200,000(10,000)?3100,000(15,000)?4100,00015,000?\begin{array} { | l | l | l | l | } \hline \text { Situation }& \begin{array}{l}\text { Sales }\\\text { revenue }\end{array} & \begin{array} { c } \text { Accounts } \\\text { receivable } \\\text { incr. } \\\text { (decr.) }\end{array} & \begin{array} { c } \text { Cash } \\\text { received } \\\text { from } \\\text { customers }\end{array} \\\hline 1 & 200,000 & 10,000 & ?\\\hline 2 & 200,000 & ( 10,000 ) & ? \\\hline 3 & 100,000 & ( 15,000 ) & ? \\\hline 4 & 100,000 & 15,000 & ? \\\hline\end{array}

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