Homework Answers
Solution:
Increase cash and decrease accounts receivable
Explanation:
Journal entry
| Cash a/c Dr | xx | |
| To accounts receivable a/c | xx |
Here Increase cash account because cash is received and decrease accounts receivables because debtors will decreased who are owed.
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Question 15 (2 points) The Dark Chocolate Shoppe collected cash for amounts owed to the company....
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Required:
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2. Prepare the summary journal entry for each
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in millions):
Required:
1. Calculate cash received from customers.
(Enter your answers in millions (i.e., $10,100,000 should
be entered as 10.1).)
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).)
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