Cave Hardware's forecasted sales for April; May; June; and July are

$ 250 comma 000$250,000;

$ 270 comma 000$270,000;

$ 160 comma 000$160,000;

and

$ 210 comma 000$210,000;

respectively. Sales are

6060%

cash and

4040%

credit with all accounts receivables collected in the month following the sale. Cost of goods sold is

8080%

of sales and ending inventory is maintained at

$ 45 comma 000$45,000

plus

2020%

of the following month's cost of goods sold. All inventory purchases are paid

2626%

in the month of purchase and

7474%

in the following month.

What is the balance of accounts payable on the June 30 budgeted balance sheet at Cave Hardware?

A.

$ 75 comma 776$75,776

B.

$ 136 comma 000$136,000

C.

$ 100 comma 640$100,640

D.

$ 118 comma 400$118,400