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 12,520 14,630 11,450 Skipped 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 $6,800. The expected January 31 Accounts Payable balance is: Multiple Choice O $12,520. 0 $9,660. 0 $1,315 $7,315. 0 $6,800. 0 $6,260