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Stuart Books buys books and magazines directly from publishers and distributes...

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Accounting

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Stuart Books buys books and magazines directly from publishers and distributes them to grocery stores. The wholesaler expects to purchase the following inventory: Stuart Books' accountant prepared the following sehedule of cash payments for inventory purchases. Stuart 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 cosh payments for inventory purchases by falling 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, Answer is complete but not entirely correct. 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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