Vernon Books expects to purchase the following supplies:

	April			May			June
Required purchases (on account)	$	110,000		$	130,000		$	142,000

Vernon Bookss accountant prepared the following schedule of cash payments for supplies purchases. Vernon Bookss suppliers require that 85 percent of purchases on account be paid in the month of purchase; the remaining 15 percent are paid in the month following the month of purchase.

Required

1. Complete the schedule of cash payments for supplies purchases by filling in the missing amounts.

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

Vernon Books expects to purchase the following supplies: Required purchases (on account) April $110,000 May $130,000 June $142,000 Vernon Books's accountant prepared the following schedule of cash payments for supplies purchases. Vernon Books's suppliers require that 85 percent of purchases on account be paid in the month of purchase; the remaining 15 percent are paid in the month following the month of purchase. Required a. Complete the schedule of cash payments for supplies 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 Complete the schedule of cash payments for supplies purchases by filling in the missing amounts. May June Schedule of Cash Payments for Supplies Purchases April Payment for current accounts payable $ 93,500 Payment for previous accounts payable 9,000 Total budgeted payments for supplies $ 102,500 Vernon Books expects to purchase the following supplies: Required purchases (on account) April $110,000 May $130,000 June $142,000 Vernon Books's accountant prepared the following schedule of cash payments for supplies purchases. Vernon Books's suppliers require that 85 percent of purchases on account be paid in the month of purchase; the remaining 15 percent are paid in the month following the month of purchase. Required a. Complete the schedule of cash payments for supplies 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 ------------- 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