Onyx Hardware's forecasted sales for April; May; June; and July are $$240,000$; $$260,000$; $$100,000$; and $$280,000$; respectively. Sales are $65\%$ cash and $35\%$ credit with all accounts receivables collected in the month following the sale. Cost of goods sold is $80\%$ of sales plus $20\%$ of the following month's cost of goods sold. All inventory purchases are paid $24\%$ in the month of purchase and $76\%$ in the following month.

What is the balance of accounts payable on the June $30$ budgeted balance sheet at Onyx Hardware?

Answers:

$$76,000$

$$108,800$

$$48,640$

$$82,640$