Multiple Choice Question 128 Vaughn Manufacturing reported the following information for 2016: October November December $460000 $430000 $540000 Budgeted sales Budgeted purchases $220000 $236000 $288000 Cost of goods sold is 35% of sales. Vaughn purchases and pays for merchandise 60% in the month of acquisition and 40% in the following month. Accounts payable is used only for inventory acquisitions. How much is the budgeted balance for Accounts Payable at October 31, 2016? O $132000 O $232000 0 $94400 O $88000 Click if you would like to Show Work for this question: Open Show Work