Sheffield, Inc. reports all its sales on credit and pays operating costs in the month incurred. Amounts for 2022 are: March April May June July Budgeted sales $300400 $289200 $319700 $279500 $211000 Budgeted purchases $144500 $120300 $127500 $132 100 $89000 . Customer amounts on account are collected 75% in the month of sale and 25% in the following month. Cost of goods sold is 55% of sales. Sheffield purchases and pays for merchandise 45% in the month of acquisition and 55% in the following month. Operating expenses are: Salaries, $50500; Depreciation, $11500; Rent, $14400; and Utilities, $14500. Accounts payable is used only for inventory acquisitions. . How much is Sheffield's budgeted balance for Accounts Payable at May 31, 2022? O $66165 O $70125 O $124260 $57375