Waterway Industries reported the following information for 2022: - All sales are on credit. -...
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Accounting
Waterway Industries reported the following information for 2022: - All sales are on credit. - Customer amounts on account are collected 50% in the month of sale and 50% in the following month. - Cost of goods sold is 35% of sales. - Purchases are paid for 60% in the month of acquisition and 40% in the following month. - Accounts payable is used only for inventory acquisitions. What is the budgeted balance for Accounts Payable at October 31, 2022? $108400$132000$198000$78000
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