October november december budgeted sales $460,000 $440,000 $540,000 budgeted purchases $240,000 $256,000 $228,000 cost of goods sold is 35% of sales alli's broom's 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, 2019? no decimal points.

Month incurred  Amount  October   November    December

                               $               $               $                    $

October              240,000   144,000   96,000

November          256,000                    153,600       102,400

December           228,000                                         136,800

                                               144,000    249,600      239,200

The budgeted balance for accounts payable at October 31 is $96,000, which is the 40% of purchases not realized in October.

Explanation:

Purchases for each month are settled 60% in the month of purchases and 40% in the month following purchases. 60% of October purchases are settled in October while 40% are settled in November.