A company estimated the following raw materials purchases for the coming three months. Months April May June Amount $620,000 $640,000 $660,000 The company pays for the 30% raw materials purchases in...

A company estimated the following raw materials purchases for the coming three months. Months April May June Amount $620,000 $640,000 $660,000 The company pays for the 30% raw materials purchases in the month of purchases while the remaining 70% of the raw materials purchases are paid for in the following month. What is the amount of accounts payable as on June 302 a. $448,000 b. $198,000 c. $462,000 d. $434,000