Carver Lumber sells lumber and general building supplies to building contractors in a medium-sized town in Montana. Data regarding the store's operations follow: - Sales are budgeted at $350,000 for November, $320,000 for December, and $300,000 for January. - Collections are expected to be 90% in the month of sale, 8% in the month following the sale, and 2% uncollectible. - The cost of goods sold is 75% of sales. - The company purchases 60% of its merchandise in the month prior to the month of sale and 40% in the month of sale. Payment for merchandise is made in the month following the purchase. - Other monthly expenses to be paid in cash are $24,700. - Monthly depreciation is $16,000. - Ignore taxes.

Reference: 9-23

Accounts payable at the end of December would be:

		$231,000
		$96,000
		$135,000
		$240,000