Fortune Company's direct materials budget shows the following cost of materials to be purchased for the coming the Material purchases January $ 12,940 February March 15,050 $11,870 Payments for purchases are expected to be made 50% in the month of purchase and 50% in the month following purchese. The December Accounts Payable balance is $7,500. The expected January 31 Accounts Payable balance is Multiple Choice $7,500 $7,525 $12.940 $10,220 ayments for purchases are expected to be made 50% in the month of purchase and 50% in the month following purchase. The December Accounts yable balance is $7,500. The expected January 31 Accounts Payable balance is: Multiple Choice $7,500 $7,525 $12.940 $10,220. $6,470. < Prey 22 of 40 Next > Fortune Company's direct materials budget shows the following cost of materials to be purchased for the coming three month Material purchases January $ 12,940 February $15,050 March $11,870 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 $7,500. The expected January 31 Accounts Payable balance is: Multiple Choice $7,500 $7,525 $12,940. $10,220 < Prev 22 of 40 Next >