Galina, Inc. has prepared the following direct materials purchases budget: Budgeted DM Month Purchases June...
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Accounting
Galina, Inc. has prepared the following direct materials purchases budget: Budgeted DM Month Purchases June $68,000 July 79,500 August 78,700 September 76,200 October 73,800 All purchases are paid for as follows: 10% in the month of purchase, 50% in the following month, and 40% two months after purchase. Calculate the budgeted balance of accounts payable at the end of October A. $66,420 O B. $96,900 OC. $30,480 OD. $60,000
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