Reagan Corporation is a wholsese distributor of truck replacement parts. Initial amounts taken from Reagans records are as follows:

Inventory t Doomber 31 (based on phy ioal oount of goode in Reagan'" warehouse on December 31) ok 61,440,000 Accounts peyable at December 3t 2, 10 day ts303,000 Baker Company Charlle Company Dolly Company Eagler Company Net 30 Net 30 Net 30 Net 30 Net 30 248,000 338,000 263,000 nceFull Company Greg Company Accounts payable, December 31 $1,152,000 Sales for the year $9.950,000 Additional Information: 1. Parts heid by Reagan on consignment from Charle, amounting to $250.000, were Included in the physical count of 2. Parts totaling $41,000, which were purchased from Full and pald for In December, were sold in the last week of the goods in Reagan's warehouse and in accounts payable at December 31 year and appropriatey recorded as sales of $47000. The parts were Included in the physical count of goods in Reagan's warehouse on December 31 because the parts were on the loading dock walting to be picked up by customers 3. Parts in transit on December 31 to customers, shipped tob. shipping point on December 28, amounted to $72,000. 4. Retaliers were hoiding goods on consignment from Reagan, which had a cost of $400,000 and a retail value of 5. Goods were in transit from Greg to Reagan on December 31. The cost of the goods was $44,000, and they were 6. A freight b in the amount of $3,900 specfically relating to merchand se purchased in December, all of which was 7. All the purchases from Baker occurred during the last seven days of the year. These tems have been recorded in invoices in time to take advantage of all discounts, adjust inventory according y, and record accounts payable net of The customers receved the parts on January 6 of the following year. Sales of $78,000 to the customers for the parts were recorded by Reagan on January 2 $440,000 shipped to.b. shipping point on December 29 stll in the inventory at December 31, was received on January 3. The freight billi was not inciuded in eilther the Enventory or in accounts payable at December 31 accounts payable and accounted for in the physical inventory at cost before discount. Reagan's policy is to pay dscounts Required Compiete the schedule of adjustments to the intal amounts which is shown Deiow. (Amounts to be deducted should be indicated with a minus sign.) Inven PayableSales Initial amounts $1,440,000| $ 1,152,000| .950.000 decreasel: $140.00 1.1520009.950