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For the journal entry - "Record the net effect of the selling and collection activities."...

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Accounting

imageFor the journal entry - "Record the net effect of the selling and collection activities."

April Wood Products' accounts receivable increased during the year by $5.5 million. What is the amount of cash April Wood Products received from customers during the reporting period if its sales were $40.0 million? Prepare a summary entry that represents the net effect of the selling and collection activities during the reporting period Complete this question by entering your answers in the tabs below Cash Received General Journal What is the amount of cash April Wood Products received from customers during the reporting period if its sales were $54.5 million? (Enter your answer in millions rounded to 1 decimal place (i.e., 5,500,000 should be entered as 5.5).) Cash million

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