A firm has an average collection period of $45$ days and an operating cycle of $130$ days. It has a policy of keeping at least $$10$ on hand as a minimum cash balance and has a beginning cash balance for the first quarter of $$20.$ Beginning receivables for the quarter amount to $$35.$ Sales for the first and second quarters are expected to be $$140$ and $$150,$ respectively, while purchases amount to $80\%$ of the next quarter's forecasted sales. The accounts payable period is $90$ days. What is the value of the payables account at the end of the first quarter?

Question $25$ Select one:

a$.$

$$112$

b$.$

$$110$

c$.$

$$108$

d$.$

$$120$

e$.$

$$100$