Fortune Company's direct materials budget shows the following cost of materials to be purchased for the coming three months: January $ 13,240 February March $ 15,350 $ 12,170 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 $8,000. The expected January 31 Accounts Payable balance is: