Sheridan Company reported the following information for 2019: October November December Budgeted sales $450000 $380000 $490000 Budgeted purchases $190000 $206000 $238000 Cost of goods sold is 35% of sales. Sheridan 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, 2019? $76000 $114000 $224000 $82400