Answer:
Express Meals
The budgeted accounts payable balance on November 30 is:
= $347,000.
Explanation:
a) Data and Calculations:
Budgeted inventory purchases:
September: $ 300,000 
October: $ 350,000 
November: $ 390,000 
Payment to suppliers:
Month of purchase = 20%
Month following purchase = 70%
Two months after purchase = 10%
                                                    September    October   November  Total
Purchase                                     $300,000   $350,000    $390,000 $1,040,000
Payments:
Month of purchase  (20%)             60,000        70,000         78,000  $208,000
Month following purchase (70%)                     210,000      245,000  $455,000
Two months after purchase (10%)                                         30,000  $30,000
Total payments                             60,000      280,000      353,000  $693,000
Outstanding balance ($1,040,000 - $693,000) = $347,000