YUMU Concord, Inc. reports all its sales on credit and pays operating costs in the month incurred. Amounts for 2020 are: March April May June July Budgeted sales $300800 $291000 $319600 $281000 $210400 Budgeted purchases $143400 $120000 $127800 $132900 $89300 Customer amounts on account are collected 65% in the month of sale and 35% in the following month Cost of goods sold is 70% of sales . Concord purchases and pays for merchandise 30% in the month of acquisition and 70% in the following month. Operating expenses are: Salaries, $49000; Depreciation, $11000; Rent, $15100; and Uthtes, $14700. Accounts payable is used only for inventory acquisitions How much is Concord' budgeted balance for Accounts Payable at May 31, 20207 $125460 $84000 O $38340 $89460