Exercise 7-8A (Algo) Preparing a schedule of cash payments for inventory purchases LO 7-3

Exercise 7-8A (Algo) Preparing a schedule of cash payments for inventory purchases LO 7-3 Baird Books buys books and magazines directly from publishers and distributes them to grocery stores. The wholesaler expects to purchase the following inventory April $112,000 May Required purchases (on account) June $144,000 $132,600 Baird Books' accountant prepared the following schedule of cash payments for inventory purchases. Baird Books' suppliers require that 90 percent of purchases on account be paid in the month of purchase the remaining 10 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. Complete this question by entering your answers in the tabs below. Required A Required B Check my world B that 90 percent of purchases on account be paid in the month of purchase; the remaining 10 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. BOOK Complete this question by entering your answers in the tabs below. rences Required A Required B Complete the schedule of cash payments for inventory purchases by filling in the missing amounts. Schedule of Cash Payments for Inventory Purchases April May June Payment for current accounts payable $ 100.800 Payment for previous accounts payable 10,000 Total budgeted payments for inventory $ 110,800 Required Required B > Check 3 that 90 percent of purchases on account be paid in the month of purchase the remaining 10 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. Book Complete this question by entering your answers in the tabs below. rences Required A Required B Determine the amount of accounts payable the company will report on its pro forma balance sheet at the end of the second quarter Accounts payable