Marigold, Inc. reports all its sales on credit, and pays operating costs in the month incurred. Amounts for 2022 are:

March

April

May

June

July

Budgeted sales$300900$289000$319500$280400$209400Budgeted purchases

$144900$120500$128200$131600$90100

Customer amounts on account are collected60% in the month of sale and40% in the following month.Cost of goods sold is55% of sales.Marigoldpurchases and pays for merchandise45% in the month of acquisition and55% in the following month.Operating expenses are: Salaries, $50400; Depreciation, $11600; Rent, $15500; and Utilities, $13300.Accounts payable is used only for inventory acquisitions.

How much isMarigold's budgeted balance for Accounts Payable at May 31, 2022?

$57690

$124735

$66275

$70510