Problem 14-18A (Static) Preparing an inventory purchases budget and schedule of cash poyments LO 143 Humboldt, inc selts fireworks: The company's marketing drector developed the following cost of goods sold budget for Aprit, May. June, and July makes all purchases on account. The compsny pays 60 peicent of actounts payable in the imonth of purchase and the remaining 40 percent in the month following furchase Asquired 6. Preoart an wivereoty purchases budigert loc Aper. May arid Mane d. Determine the balance in accounts payable Humboldt will report on the end-of-quarter pro forma balance sheer. Complete this qquestion by entering your answers in the tabs below, Prepare a schedule of cash paymwnts for ieventary for Apiil, May, and June