Pharoah Company reported the following information for 2020:

	September	October	November	December	January
Budgeted sales	$240700	$309200	$289700	$360500	$200300
Budgeted purchases	$89600	$121000	$127500	$143400	$88600

	Cost of goods sold is 35% of sales.
	Pharoah purchases and pays for merchandise 65% in the month of acquisition and 35% in the following month.
	Accounts payable is used only for inventory acquisitions.

How much is the budgeted balance for Accounts Payable at October 31, 2020?

$42350

$63088

$89163

$44625