Bramble Corp. reported the following information for 2022: October November December Budgeted sales $380000 $360000 $460000 Budgeted purchases $180000 $176000 $208000 Cost of goods sold is 35% of sales. Bramble purchases and pays for merchandise 60% in the month of acquisition and 40% in the following month. Accounts payable is used only for inventory acquisitions. How much is the budgeted balance for Accounts Payable at October 31, 2022? $72000 $108000 $70400 $208000

Bramble Corp.reported the following information for 2022: October November December Budgeted sales $380000 $360000 $460000 Budgeted purchases $180000 $176000 $208000 Cost of goods sold is 35% of sales. Bramble purchases and pays for merchandise 60% in the month of acquisition and 40% in the following month. Accounts payable is used only for inventory acquisitions. How much is the budgeted balance for Accounts Payable at October 31, 2022? O $72000 O $108000 O $70400 $208000 Save for Later Attempts: 0 of 1 used Submit