Sciara Books buys books and magazines directly from publishers and distributes them to grocery stores. The wholesaler expects to purchase the following inventory.

April- $70,000

May- $90,000

June- $110,000

Sciara Books accountant prepared the following schedule of cash payments for inventory purchases. Sciara Books suppliers require that 80 percent of purchases on account be paid in the month of purchase; the remaining 20 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.(Input all amounts as positive value. Omit the "$" sign in your response.)

Schedule of Cash Payments for Inventory Purchases
	April	May	June
Payment for current accounts payable	$56,000	$	$
Payment for previous accounts payable	4,000
Total budgeted payments for inventory	$60,000	$	$

(b)	Determine the amount of accounts payable the company will report on its pro forma balance sheet at the end of the second quarter.