10 10 10 points Ahmed Company purchases all merchandise on credit. It recently budgeted the month-end accounts payable balances below. Cash payments on accounts payable during each month are expected to be June, $1,550,000; July, $1,250,000; and August, $1,400,000. Hint: Use the relation (Beg. Accounts Payable + Purchases on Credit - Payments on Accounts Payable End, Accounts Payable) to solve for budgeted purchases. May 31 June 30 July 31 August 31 Accounts payable $ 190,000 $190,000 $300,000 $180,000 eBook Hint Print References Computing budgeted merchandise purchases from accounts payable. Budgeted amounts: Ending accounts payable Add: Cash paid on accounts payable Total accounts payable Less: Beginning accounts payable Budgeted merchandise purchases June July August