Campbell Books buys books and magazines directly from publishers and distributes them to grocery stores. The wholesaler expects to Campbell Books buys books and magazines directly from publishers and distributes them to grocery stores. The wholesaler expects to

purchase the following inventory:

Campbell Books' accountant prepared the following schedule of cash payments for inventory purchases. Campbell Books' suppliers

require that $85$ percent of purchases on account be paid in the month of purchase; the remaining $15$ percent are paid in the month

following 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 second quarter.

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Determine the amount of accounts payable the company will report on its pro forma balance sheet at the end of the second

quarter.