Moving to another question will save this response. Question 8 Estate Corp., has the following information: Month January February March April May Budgeted Purchases $27,700 30,000 28,500 30,280 27,080 Purchases are paid for in the following manner: 5% of the purchase amount in the month of purchase 40% of the purchase amount in the month after purchase 55% of the purchase amount in the second month after purchase What is the expected Accounts Payable balance as of May 31? $37,126 $1514 O $37,838 $42,380