What is the expected balance in Accounts Payable as of April 30?

ACCOUNTING

Multiple Choice

Bear Company has the following information:


Month Budgeted Purchases

January $26,800

February 29,000

March 30,520

April 29,480

May 27,680


Purchases are paid for in the following manner:

10% in the month of purchase

50% in the month after purchase

40% two months after purchase


What is the expected balance in Accounts Payable as of April 30?

a. $26,532

b. $38,740

c. $12,208

d. $17,688

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