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Fill in the missing amounts in the following schedules. July August September Sales Cash receipts: $ 242,000 $ 81,500 From cash sales From sales on
Fill in the missing amounts in the following schedules. July August September Sales Cash receipts: $ 242,000 $ 81,500 From cash sales From sales on accountt Total cash receipts $136,200 99,825 1. *Half of each month's sales are on account. June sales amounted to $181,500. t 70% of credit sales is collected in the month of sale, 30% is collected in the following month. Accounts payable, 12/31x0 Purchase of goods and services on account during 20x1 Payments of accounts payable during 20x1 Accounts payable, 12/31/x1 603,000 t 242,000 2. 804,000 The Euro () is used in most European markets. Accounts receivable, 12/31/x0 Sales on account during 20x1 Collections of accounts receivable during 20x1 1,710,000 4,512,000 (3,908,000) 3.Accounts receivable, 12/31/x1 SThe Yen is the Japanese national currency. The Chinese national currency is denominated in Yuan, which shares the same symbol. Accumulated depreciation, 12/31/x0$406,000 Depreciation expense during 20x1 75,500 4Accumulated depreciation, 1231x1 Retained earnings, 12/31/x0 Net income for 20x1 Dividends paid in 20x1 Retained earnings, 12/31/x1 $ 1,538,200 300,300 0
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