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Marigold Company reported the following information for 2022: September October November December January $239500 $310700...

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Accounting

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Marigold Company reported the following information for 2022: September October November December January $239500 $310700 $290800 $359700 $199800 Budgeted sales Budgeted purchases $89400 $120100 $127600 $144000 $87800 Cost of goods sold is 40% of sales. Marigold purchases and pays for merchandise 60% in the month of acquisition and 40% in the following month . . Accounts payable is used only for inventory acquisitions. How much is the budgeted balance for Accounts Payable at October 31, 2022

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