Consider the three independent situations below (amounts are $ in millions):
1. Calculate cash received from customers. (Enter your answers in millions (i.e., $10,100,000 should be entered as 10.1).)
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2. Prepare the summary journal entry for each situation. (If no entry is required for a particular transaction/event, select “No Journal Entry Required” in the first account field. Enter your answers in millions (i.e., $10,100,000 should be entered as 10.1).)
Cash Received Situation Sale Revenue Accounts Receivable Increase (Decrease) from Customers 200 200 3. 200 (30) View transaction list Journal entry worksheet 2 3 Record the receipt of cash from customers. Note: Enter debits before credits. Transaction General Journal Debit Credit Record entry Clear entry View general journal