Supply is located in a small town in the rural west. Data regarding the store's operations follow:

• Sales are budgeted at $305,000 for November, $325,000 for December, and $225,000 for January.
• Collections are expected to be 65% in the month of sale and 35% in the month following the sale.
• The cost of goods sold is 80% of sales.
• The company desires to have an ending merchandise inventory at the end of each month equal to 70% of the next month's cost of goods sold. Payment for merchandise is made in the month following the purchase.
• Other monthly expenses to be paid in cash are $22,600.
• Monthly depreciation is $28,500.
• Ignore taxes.

Balance Sheet October 31
Assets
Cash	$	34,000
Accounts receivable		84,500
Merchandise inventory		170,800
Property, plant and equipment, net of $624,000 accumulated depreciation		920,000
Total assets	$	1,209,300
Liabilities and Stockholders' Equity
Accounts payable	$	254,000
Common stock		755,000
Retained earnings		200,300
Total liabilities and stockholders' equity	$	1,209,300

Accounts payable at the end of December would be: