Correy Company Reported the Following Information for 2016 $\bullet$ Cost of Goods Sold Is 35% of Sales

Correy Company reported the following information for 2016:
$\bullet$
Cost of goods sold is 35% of sales.
$\bullet$ Correy purchases and pays for merchandise 60% in the month of acquisition and 40% in the following month.
$\bullet$ Accounts payable is used only for inventory acquisitions.
How much is the budgeted balance for Accounts Payable at October 31, 2016?

A) $96,000
B) $144,000
C) $204,000
D) $102,400