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A company is working on their budgets for the year 2021. The table below has a few of their expectations for 2021. Accounts Payable on
A company is working on their budgets for the year 2021. The table below has a few of their expectations for 2021. Accounts Payable on April 1 $3,934 Inventory purchases in March $4,420 Inventory purchases in April $6,096 Inventory purchases in May $7,190 Inventory purchases in June $7,409 Inventory purchases in July $5,799 Historically, this company's payment pattern for inventory purchases has been 100% on account which then get paid 11% in the month of purchase and the remainder one month following the purchase. The Accounts Payable on April 1 is the result of inventory purchases in March 2020 and thus is expected to be paid according to the pattern described above. How much should this company expect in Accounts Payable at the end of the 2nd quarter? (round to the nearest whole dollar/input code 0)
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