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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.
|
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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