Shorstein Manufacturing Company purchases raw materials on account each month. Purchases are paid for according to the following schedule: 30% is paid in the month of the purchase 60% is paid in the month following the purchase 10% is paid in the second month following the purchase Budgeted purchases are as follows: March $75,000 April $90,000 May $85,000 How much will be reported for Accounts Payable for material purchases as of the end of May? A. $59,500 B. $68,500 C. $87,000 D. $95,500