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Adams Books buys books and magazines directly from publishers and distributes them to grocery stores. The wholesaler ex purchase the following inventory: Adams Books' accountant
Adams Books buys books and magazines directly from publishers and distributes them to grocery stores. The wholesaler ex purchase the following inventory: Adams Books' accountant prepared the following schedule of cash payments for inventory purchases. Adams Books' supplie that 85 percent of purchases on account be paid in the month of purchase; the remaining 15 percent are paid in the month fo the month of purchase. Required a. Complete the schedule of cash payments for inventory purchases by filling in the missing amounts. b. Determine the amount of accounts payable the company will report on its pro forma balance sheet at the end of the secon Complete this question by entering your answers in the tabs below. Complete this question by entering your answers in the tabs below. Complete the schedule of cash payments for inventory purchases by filling in the missing amounts. Complete this question by entering your answers in the tabs below. Determine the amount of accounts payable the company will report on its pro forma balance she quarter
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