Nobula Corp is preparing their budget for the second quarter and provides the following data
Apr May Jun
Budgeted purchases of direct materials $20,000 $24,000 $23,000
Budgeted Cash Payments for Purchases of direct materials Apr May Jun
60% of previous month purchases $6,000 $12,000 $14,400
40% of current month purchases 8,000 9,600 9,200
Total cash payments $14,000 $21,600 $23,600
Assume that accounts payable pertains only to suppliers of inventory. Based on the above data, the amount of Accounts Payable that should be shown in the budgeted balance sheet as of June 30 is ________.
A) $23,600
B) $14,400
C) $13,800
D) $9,200
C .C) Accounts Payable = $23,000 x 60% = $13,800
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