Mumbai Inc. has prepared the following purchases budget:

Month

Budgeted Purchases

June

$67,000

July

72,500

August

76,300

September

73,700

October

69,200

All purchases are paid for as follows: 10% in the month of purchase, 50% in the following month, and 40% two months after purchase. Calculate balance of Accounts payable at the end of October.

A) $77,680

B) $91,760

C) $69,330

D) $74,290