Boxwood Inc. has forecast purchases on account to be $311,000 in March, $378,000 in April, $423,000 in May, and $499,000 in June. Seventy percent of purchases are paid for in the month of purchase, the remaining 30% are paid in the following month. What is the budgeted Accounts Payable balance for June 30?

Multiple Choice

$126,900 $296,100 $149,700 $349,300