Martin Clothing Company is a retail company. The following information is available for several months...
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Accounting
Martin Clothing Company is a retail company. The following information is available for several months of the current year:
| Month | Purchases on Account | Cash Expenses Paid |
| May | $50,100 | $20,600 |
| June | 59,600 | 22,500 |
| July | 47,100 | 19,300 |
All of Martins purchases are on account with 52 percent paid in the month of purchase and the rest paid the following month.
What is Martins projected accounts payable on May 31?
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