Company is preparing their budget for the 2nd quarter and provides the following data:
| April |
May |
June |
| Budgeted purchases |
$10000
|
$12,000 |
$9,000 |
| Budgeted Cash Payments for Inventory Purchases |
April |
May |
June |
| 60% of previous month purchases |
5,000 |
6,000 |
7,200 |
| 40% of current month purchases |
4,000 |
4,800 |
3,600 |
| Total cash payments |
$9,000 |
$10,800 |
$10,800 |
Assume that accounts payable pertains only to suppliers of inventory. Based on the above data, what should the budgeted balance sheet show as the balance of Accounts payable at June 30?