Boxwood Inc.has forecast purchases on account to be $620,000 in March,$740,000 in April,$840,000 in May,and $980,000 in June.Seventy percent of purchases are paid for in the month of purchase,the remaining 30% are paid in the following month.What is the budgeted Accounts Payable balance for June 30?

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The Answer of Boxwood Inc.has forecast purchases on account to be $620,000 in March,$740,000 in April,$840,000 in May,and $980,000 in June.Seventy percent of purchases are paid for in the month of purchase,the remaining 30% are paid in the following month.What is the budgeted Accounts Payable balance for June 30?