Horton Housewares' accounts receivable decreased during the year by $5 million.
Required:
What is the amount of cash Horton received from customers during the reporting period if its sales were $33 million? Prepare a summary entry that represents the net effect of the selling and collection activities during the reporting period.
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Cash Received
General Journal
What is the amount of cash Horton received from customers during the reporting period if its sales were $33 million? (Enter your answer in millions (i.e., 10,000,000 should be entered as 10).)