Ahmed Company purchases all merchandise on credit. It recently budgeted the month-end accounts payable balances below. Cash payments on accounts payable during each month are expected to be June, $1,400,000; July, $1,300,000; and August, $1,500,000. Hint: Use the relation (Beginning Accounts Payable + Purchases on Credit - Payments on Accounts Payable = Ending Accounts Payable) to solve for budgeted purchases. May 31 Accounts payable $ 180,000 June 30 $ 150,000 July 31 $ 100,000 August 31 $ 130,000 Computing budgeted merchandise purchases from accounts payable Budgeted amounts: Ending accounts payable Add: Cash paid on accounts payable Total accounts payable Less: Beginning accounts payable Budgeted merchandise purchases June July August