Current Attempt in Progress

Vaughn Inc. reports all its sales on credit, and pays operating costs in the month incurred. Amounts for 2020 are:

March April May June July

Budgeted sales $300900 $290200 $319200 $279300 $209500

Budgeted purchases

$143500 $119200 $128400 $132800 $90200

Customer amounts on account are collected 60% in the month of sale and 40% in the following month.

Cost of goods sold is 55% of sales.

Vaughn purchases and pays for merchandise 45% in the month of acquisition and 55% in the following month.

Operating expenses are: Salaries, $49600; Depreciation, $11900; Rent, $14400; and Utilities, $13700.

Accounts payable is used only for inventory acquisitions.

How much is Vaughns budgeted balance for Accounts Payable at May 31, 2020?