Dilly Farm Supply is located in a small town in the rural west. Data regarding the store's operations follow:

Sales are budgeted at $303,000 for November, $323,000 for December, and $223,000 for January.

Collections are expected to be 70% in the month of sale and 30% in the month following the sale.

The cost of goods sold is 75% of sales.

The company desires to have an ending merchandise inventory at the end of each month equal to 80% of the next month's cost of goods sold. Payment for merchandise is made in the month following the purchase.

Other monthly expenses to be paid in cash are $22,400.

Monthly depreciation is $27,500.

Ignore taxes.

Balance Sheet

October 31

Assets

Cash $ 33,000

Accounts receivable 83,500

Merchandise inventory 181,800

Property, plant and equipment, net of $624,000 accumulated depreciation 918,000

Total assets $ 1,216,300

Liabilities and Stockholders' Equity

Accounts payable $ 252,000

Common stock 753,000

Retained earnings 211,300

Total liabilities and stockholders' equity $ 1,216,300

Accounts payable at the end of December would be: