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 Increase...

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 Increase (Decrease)	Cash received from customers
1	$	220,000		$	10,200		?
2		220,000			(10,200	)	?
3		110,000			(15,200	)	?
4		110,000			15,200		?

Jun 08, 2022

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