Exercise 22-26A (Algo) Merchandising: Computing budgeted merchandise purchases from accounts payable LO P4 Ahmed Company purchases all merchandise on credit. It recently budgeted the month-end accounts payable balances below. Cash payments on accounts payable during each month are expected to be June, $1,450,000; July, $1,250,000; and August, $1,500,000. Hint: Use the relation (Beginning Accounts Payable + Purchases on Credit - Payments on Accounts Payable = Ending Accounts Payable) to solve for budgeted purchases