AFD Grocers a local grocer has budgeted inventory purchases as follows:

October: $300,000 November: $350,000 December: $390,000

AFD Grocers pays for 20% of their purchases during the month of purchase, 70% during the month following the purchase, and the remaining 10% two months after the month of purchase. What is the budgeted accounts payable balance on December 31? (25 pts.)