Fortune Company's direct materials budget shows the following cost of materials to be purchased for the coming three months: January $ 13,060 February $ 15,170 March $ 11,990 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 $7,700. The expected January 31 Accounts Payable balance is: Multiple Choice O $7,700. o $7,585. o $13,060. o o $6.530. C