Answer the Following Questions Using the Information Below:
Estate Corp

Multiple Choice

Answer the following questions using the information below:
Estate Corp., has the following information:
$$\begin{array} { l c } \text { Month } & \text { Budgeted Purchases } \\\text { January } & \$ 26,800 \\\text { February } & 29,000 \\\text { March } & 28,500 \\\text { April } & 29,480 \\\text { May } & 26,680\end{array}$$ Purchases are paid for in the following manner:
10% of the purchase amount in the month of purchase
50% of the purchase amount in the month after purchase
40% of the purchase amount in the second month after purchase
-What is the expected balance in Accounts Payable as of March 31?

A) $37,250
B) $18,312
C) $2,900
D) $30,520