Dry Fruit Grocers a local grocer has budgeted inventory purchases as follows:

October: $300,000

November: $350,000

December: $390,000

Dry Fruit Grocers pays for 20% of their purchases during the month of purchase, 70% during the month following the purchase, and the remaining 10% two months after the month of purchase. What is the budgeted accounts payable balance on December 31?

A) $312,000

B) $347,000

C) $390,000

D) $425,000