Nobula Corp Assume That Accounts Payable Pertains Only to Suppliers of Inventory

question 44

Multiple Choice

Nobula Corp. is preparing their budget for the 2^nd quarter and provides the following data: $$\begin{array} { | l | r | r | r | } \hline & { \text { Apr } } & { \text { May } } & \text { Jun } \\\hline \text { Budgeted purchases } & \$ 20,000 & \$ 24,000 & \$ 18,000 \\\hline \text { Budgeted Cash Payments for Inventory } & & & \\\text { Purchases } & { \text { Apr } } &{ \text { May } } & \text { Jun } \\\hline 60 \% \text { of previous month purchases } & \$ 6,000 & \$ 12,000 & \$ 14,400 \\\hline 40 \% \text { of current month purchases } & 8,000 & 9,600 & 7,200 \\\hline \text { Total cash payments } & \$ 14,000 & \$ 21,600 & \$ 21,600 \\\hline\end{array}$$ 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 on June 30^th is:

• A) $12,000.
• B) $3,600.
• C) $10,800.
• D) $5,400.

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