A Company reports all its sales on credit, and pays operating costs in the month incurred. Amounts for 2020 are:

March April May June July

Budgeted sales. $300700. $289300. $320400. $280300 $210600

Budgeted purchases $143500 $119000 $128500 $131400 $89600

Customer amounts on account are collected 60% in the month of sale and 40% in the following month.

Cost of goods sold is 60% of sales

.Company purchases and pays for merchandise 40% in the month of acquisition and 60% in the following month.

Operating expenses are: Salaries, $50300; Depreciation, $11400; Rent, $15000; and Utilities, $14100.

Accounts payable is used only for inventory acquisitions.

How much is Company's budgeted balance for Accounts Payable at May 31, 2020?

$124700

$71400

$51400

$77100