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

question 44

Multiple Choice

Nobula Corp. is preparing their budget for the 2nd quarter and provides the following data:  Apr  May  Jun  Budgeted purchases $20,000$24,000$18,000 Budgeted Cash Payments for Inventory  Purchases  Apr  May  Jun 60% of previous month purchases $6,000$12,000$14,40040% of current month purchases 8,0009,6007,200 Total cash payments $14,000$21,600$21,600\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 30th is:


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