Boxwood Inc

Multiple Choice

Boxwood Inc.has forecast purchases on account to be $620,000 in March,$740,000 in April,$840,000 in May,and $980,000 in June.Seventy percent of purchases are paid for in the month of purchase,the remaining 30% are paid in the following month.What is the budgeted Accounts Payable balance for June 30?

A) $588,000
B) $686,000
C) $294,000
D) $252,000