Estate Corp., has the following information: Month Budgeted Purchases January $27,300 February 29,300 March 29,500 April 29,980 May 27,080 Purchases are paid for in the following manner: 5% of the purchase amount in the month of purchase 40% of the purchase amount in the month after purchase 55% of the purchase amount in the second month after purchase What is the expected Accounts Payable balance as of May 31? $37,526 $1499 $42,215 $37,718