Fortune Company's direct materials budget shows the following cost of materials to be purchased for the coming three months:

January February March

Material purchases $ $12,580$ $ $14,690$ $ $11,510$

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 $$6,900.$ The expected January $31$ Accounts Payable balance is:

Multiple Choice

$$7,345.$

$$6,900.$

$$12,580.$

$$6,290.$

$$9,740.$