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Complete this question by entering your answers in the tabs below. Fill in the missing amounts in the following schedules. April May June Sales* $276,000

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

Fill in the missing amounts in the following schedules.

April May June
Sales* $276,000 $207,000
Cash receipts:
From cash sales $156,600
From sales on account 117,300
Total cash receipts

Accounts payable, 12/31/x0 654,000
Purchase of goods and services on account during 20x1 276,000
Payments of accounts payable during 20x1
Accounts payable, 12/31/x1 872,000

Accounts receivable, 12/31/x0 1,880,000
Sales on account during 20x1 4,716,000
Collections of accounts receivable during 20x1 (4,044,000)
Accounts receivable, 12/31/x1

Accumulated depreciation, 12/31/x0 $423,000
Depreciation expense during 20x1 84,000
Accumulated depreciation, 12/31/x1
Retained earnings, 12/31/x0 $1,550,100
Net income for 20x1 305,400
Dividends paid in 20x1 0
Retained earnings, 12/31/x1

*Half of each months sales are on account. March sales amounted to $207,000.

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

Yen is the Japanese national currency.

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