Donna Clark, Concord & Kenneth Fabricators' accounts payable manager, has just received the company's direct materials purchases budget for the first quarter. January February March Quarter Budgeted purchase cost $255,000 $274,000 $292,000 $821,000 The company makes all of its direct materials purchases on account. Donna's recent review of the company's payment history revealed that the company pays for 25% of its direct materials purchases in the month of purchase and 75% in the month following purchase. The company expects to have an accounts payable balance of $18,000 on January 1, and this amount represents the remaining payables from December's direct materials purchases. Prepare Concord & Kenneth's cash payments budget for the first Quarter. (Enter answers in necessary fields only. Leave other fields blank. Do not enter O.) Cash Payments Budget Total Casi Payment: January February March December A/P $ $ $ January purchases February purchases March purchases Total $ $ $ $ Calculate the accounts payable balance at the end of first Quarter. Accounts Payable balance $