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5 Check my work 10 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, $1,400,000; July, $1,450,000; and August, $1,400,000. Hint: Use the relation (Beg. Accounts Payable + Purchases on Credit - Payments on Accounts Payable = End. Accounts Payable) to solve for budgeted purchases. 10 points May 31 Accounts payable June 30 $ 160,000 $ 150,000 July 31 $ 300,000 eBook August 31 $ 140,000 Hint Print August References Computing budgeted merchandise purchases from accounts payable Budgeted amounts: June July Ending accounts payable Add: Cash paid on accounts payable Total accounts payable 0 0 Less: Beginning accounts payable 0 Budgeted merchandise purchases $ 0 $ 0 $ 0