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Thornton Books buys books and magazlnes directly from publishers and distributes them to grocery stores. The wholesaler expects to purchase the following Inventory: Thornton Books'
Thornton Books buys books and magazlnes directly from publishers and distributes them to grocery stores. The wholesaler expects to purchase the following Inventory: Thornton Books' accountant prepared the following schedule of cash payments for Inventory purchases. Thornton Books' suppllers require that 85 percent of purchases on account be pald in the month of purchase; the remaining 15 percent are pald 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. Complete the schedule of cash payments for inventory purchases by filling in the missing amounts. . Complete the schedule of cash payments for Inventory purchases by filling in the missing amounts. o. 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. 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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