Month Budgeted Purchases January $26,800 February 29,000 March 30,520 April 29,480 May 27,680 Purchases are paid as follows: 10% in the month of purchase 50% one month after purchase 40% two months after purchase What is the expected balance in Accounts Payable on May 31? $2,948 $11,792 $24,912 $36,704