Fortune Company's direct materials budget shows the following cost of materials be purchased forth coming three months: Payments for purchases are expected to be made 50% in the month of purchase and 50% in the month following purchase. The December Accounts Payable balance is $ 6, 500. The expected January 30 Accounts Payable balance is: $6, 500. $7, 078. $12, 040. $6, 020. $9, 270