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Walton Books buys books and magazines directly from publishers and distributes them to grocery stores....

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Question

Accounting

Walton Books buys books and magazines directly from publishers and distributes them to grocery stores. The wholesaler expects to
purchase the following inventory:
Walton Books' accountant prepared the following schedule of cash payments for inventory purchases. Walton 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
Complete the schedule of cash payments for inventory purchases by filling in the missing amounts.
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