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1 Walton Book's buys books and magazines diredly from publishers and distributes them to grocery stores. The wholesaler expeds to purchase the following inventory: Wiatton
Walton Book's buys books and magazines diredly from publishers and distributes them to grocery stores. The wholesaler expeds to purchase the following inventory:
Wiatton Book's' accountant prepared the following schedule of cash payments for inventory purchases. Walton Book's suppliers require that percent of purchases on account be paid in the month of purchase; the remaining percent are paid in the month following the manth of purchase.
Required
a Complete the schedule of cash payments for inventory purchases by filling in the missing a mounts.
b Determine the amount of accounts payable the company will report on its pro forma balance sheet at the end of the second quarter.
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Complete the schedule of cash payments for inuentory purchases by filling in the missing amounts.
tableSchedule of Cash Payments for Inventory PurchasesApril,,May,JunePayment for current accounts payable,,$
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