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Jordan Books buys books and magozines directly from publishers and distributes them to grocery stores. The wholesaler expects to purchase the following inventory: Jordan Books'
Jordan Books buys books and magozines directly from publishers and distributes them to grocery stores. The wholesaler expects to purchase the following inventory: Jordan Books' accountant prepared the following schedule of cash payments for inventory purchases. Jordan Books' suppliers require that 85 percent of purchases on account be paid in the month of purchsse; the remaining 15 percent are paid in the month following the month of purchese. Required a. Complete the schedule of cosh poyments for inventory purchsses by filling in the missing amounts. b. Determine the amount of accounts poyoble the compsny 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. Complete the schedule of cash payments for inventory purchases by filling in the missing amounts. 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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