Case (7): K.M. Company plans the following direct materials purchases Month Planned purchases Dec $ 80000 Jan 70000 Feb 60000 Mar 90000 Required: For each of the following plans, determine K.M. expected monthly cash payments for Jan, Feb, and Mar Treat each plan separately: 1- K.M. pays for all purchases in the month following the purchased; they will receive no cash discount 2- K.M. can pay 60% of its purchases in the month of purchase and receive 5% discount, the remaining purchases will be paid in the Month following the purchases and no discount will be received on those purchases