Complete this question by entering your answers in the tabs below.

• Required 1

Fill in the missing amounts in the following schedules.

	April	May	June
Sales*	$80,000	$60,000
Cash receipts:
From cash sales	$40,000	$30,000	$45,000
From sales on account	40,000	34,000
Total cash receipts

Half of each months sales are on account. March sales amounted to $60,000.

60% of credit sales is collected in the month of sale; 40% is collected in the following month.

Yen is the Japanese national currency.

2.

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• Required 2

Fill in the missing amounts in the following schedules.

Accounts payable, 12/31/x0	300,000
Purchase of goods and services on account during 20x1	1,200,000
Payments of accounts payable during 20x1
Accounts payable, 12/31/x1	400,000

3.

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• Required 3

Fill in the missing amounts in the following schedules.

Accounts receivable, 12/31/x0	340,000
Sales on account during 20x1	900,000
Collections of accounts receivable during 20x1	(780,000)
Accounts receivable, 12/31/x1

4.

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• Required 4

Fill in the missing amounts in the following schedules.

Accumulated depreciation, 12/31/x0	$810,000
Depreciation expense during 20x1	150,000
Accumulated depreciation, 12/31/x1

5.

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• Required 1
• Required 2
• Required 3
• Required 4
• Required 5

Fill in the missing amounts in the following schedules.

Retained earnings, 12/31/x0	$2,050,000
Net income for 20x1	400,000
Dividends paid in 20x1	0
Retained earnings, 12/31/x1