Fill in the missing amounts in the following schedules. April May $60,000 June 1. Sales $80,000 Cash
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April May $60,000 June 1. Sales $80,000 Cash receipts: From cash sales From sales on accountt Total cash receipts $45,000 34,000 2. Accounts payable, 12/31/x0 300,000 euros 1,200,000 Purchase of goods and services on account during 20x1 Payments of accounts payable during 20x1 Accounts payable, 12/31/xt 400,000 340,000 yen 900,000 780,000 3. Accounts receivable, 12/31/x0 Sales on account during 20x1 Collections of accounts receivable during 20xf Accounts receivable, 12/31/x $810,000 150,000 4. Accumulated depreciation, 12/31/x0 Depreciation expense during 20x1 Accumulated depreciation, 12/31/xt 5. Retained earnings, 12/31/x0 $2,050,000 400,000 Net income for 20x Dividends paid in 20x1 Retained earnings, 12/31/x1 Half of each month's sales are on account. March sales amounted to $60,000 160% 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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1 April May June Sales 80000 60000 90000 a Cash receipts From cash sales 40000 b 30000 c 45000 From ...View the full answer
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Managerial Accounting Creating Value in a Dynamic Business Environment
ISBN: 978-0078110917
9th edition
Authors: Ronald W. Hilton
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