15

Boxwood Inc. has forecast purchases on account to be $313,000 in March, $371,000 in April, $420,000 in May, and $497,000 in June. Seventy percent of purchases are paid for in the month of purchase, the remaining 30% are paid in the following month. What is the budgeted Accounts Payable balance for June 30?

Multiple Choice

• $126,000

• $347,900

• $149,100

• $294,000