Campbell, Inc. sells fireworks. The companys marketing director developed the following cost of goods sold budget for April, May, June, and July.

	April	May	June	July
Budgeted cost of goods sold	$72,000	$82,000	$92,000	$98,000

Campbell had a beginning inventory balance of $3,000 on April 1 and a beginning balance in accounts payable of $15,400. The company desires to maintain an ending inventory balance equal to 20 percent of the next periods cost of goods sold. Campbell makes all purchases on account. The company pays 60 percent of accounts payable in the month of purchase and the remaining 40 percent in the month following purchase.

Required

Prepare an inventory purchases budget for April, May, and June.

Determine the amount of ending inventory Campbell will report on the end-of-quarter pro forma balance sheet.

Prepare a schedule of cash payments for inventory for April, May, and June.

Determine the balance in accounts payable Campbell will report on the end-of-quarter pro forma balance sheet.

Required A

Inventory Purchases Budget	April	May	June
Budgeted cost of goods sold	$72,000	$82,000	$92,000
Plus: Desired ending inventory	16,400	18,400	19,600
Inventory needed	88,400	100,400	111,600
Less: Beginning inventory	3,000	16,400	18,400
Required purchases (on account)	$85,400	$84,000	$93,20

Required B

Ending inventory

$19,600

Required C

Schedule of Cash Payments	April	May	June
Payment of current accounts payable	$51,240
Payment of previous accounts payable
Total budgeted payments for inventory	$51,240	$0	$0

Required D

Determine the balance in accounts payable Campbell will report on the end-of-quarter pro forma balance sheet.

Accounts payable

Can you help me out with C and D please? Can you also show your work?