Quick Dollar Company purchases all merchandise on credit. It recently budgeted the following month-end accounts payable balances and merchandise inventory balances. Cash payments on accounts payable during each month are expected to be: May, $1,600,000; June, $1,490,000; July, $1,425,000; and August, $1,495,000.

	Accounts Payable		Merchandise Inventory
May 31	$	150,000	$	250,000
June 30		200,000		400,000
July 31		235,000		300,000
August 31		195,000		330,000