Fortune Company's direct materials budget shows the following cost of materials to be purchased for the coming three months January $ 13,120 February $ 15,230 March $ 12,050 Material purchases 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 $7,800. The expected January 31 Accounts Payable balance is: $10,460