(Answered) Question - general inc has prepared the following direct

Accounting

Question - General, Inc has prepared the following direct materials purchases budget:

June: 69,000

July: 78,500

August: 78,100

September: 76,000

October: 78,200

All the purchases are paid for as follows: 40% in the month of purchase, 50% in the following month, and 10% two months after purchase.

Calculate budgeted balance of accounts payable at the end of October.

a. 46,920

b. 7,600

c. 15,420

d. 54,520

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