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, $1,350,000; and August, $1,400,000 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 $ 110,000 $ 100,000 $100,000 $ 110,000 August Computing budgeted merchandise purchases from accounts payable Budgeted amounts: Juno July Ending accounts payable Add: Cash paid on accounts payable Total accounts payable Less: Beginning accounts payablo Budgeted merchandise purchases os