Carpon Lumber sells lumber and general building supplies to building contractors in a medium-sized town in Montana. Data regarding the store's operations follow: %u2022 Sales are budgeted at $340,000 for November, $350,000 for December, and $370,000 for January. %u2022 Collections are expected to be 55% in the month of sale, 44% in the month following the sale, and 1% uncollectible. %u2022 The cost of goods sold is 75% of sales. %u2022 The company desires to have an ending merchandise inventory equal to 60% of the next month's cost of goods sold. Payment for merchandise is made in the month following the purchase. %u2022 Other monthly expenses to be paid in cash are $21,100. %u2022 Monthly depreciation is $19,000. %u2022 Ignore taxes.

Accounts payable at the end of December would be: a) $105,000 b) $262,500 c) $271,500 d) $166,500