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, $1,450,000; July, $1,450,000; and August, $1,300,000. Hint: Use the relation (Beg. Accounts Payable + Purchases on Credit - Payments on Accounts Payable - End Accounts Payable) to solve for budgeted purchases. Accounts payable May 31 June 30 July 31 August 31 $ 140,000 $150,000 $100,000 $100,000 July Computing budgeted merchandise purchases from accounts payable Budgeted amounts: June August Ending accounts payable AddCash paid on accounts payable Total accounts payable 0 0 Less: Beginning accounts payable Budgeted merchandise purchases S os 0 $ 0 0