The company places orders each quarter that are 50 percent of next quarter's sales and has a 30-day payables period. The projected sales for next year are: 01 02 03 04 $53,775 $60,225 $69,075 $74,450 Sales What is the accounts payable balance at the end of the second quarter? Multiple Choice $10,038 $15,794 $23,025 $11,513 $20,075