ABC has completed the following inventory purchases budget. January 12,000 Inventory purchases budget in units Each unit costs $5. ABC purchases all inventory on account and pays 40% in the month of purchase and the remaining 60% in the month following the purchase. Accounts payable balance at December 31 = $40,000 How much cash will be disbursed for inventory purchases in January? Select one: $24,000 X $52,000 none of these answers is correct $64,000