The company places orders each quarter that are 63 percent of the following quarter's sales and has a 60-day payables period. What is the accounts payable balance at the end of the third quarter?

All That Remains Products has projected sales for next year of: Sales Q1 Q2 Q3 04 $77,100 $80,600 $87,050 $94,800 The company places orders each quarter that are 63 percent of the following quarter's sales and has a 60-day payables period. What is the accounts payable balance at the end of the third quarter? Multiple Choice O $29,048 O $39.816 O $18.281 () $19,908 O $16,926