Hill Company has budgeted purchases of merchandise inventory of $454,000 in January and $530,000 in February. Assume Hill pays for inventory purchases 70% in the month of the purchase and 30% in the month after purchase. The Accounts Payable balance on December 31 is $98,150. Prepare a schedule of cash payments for purchases for January and February. (If an input field is not used in the table leave the input field empty, do not enter a zero.) Cash Payments January February Total merchandise inventory purchases January February Cash Payments Merchandise Inventory: Dec. Dec. 31 Accounts Payable, paid in Jan. Jan.Jan. merchandise inventory purchases paid in Jan. Jan.-Jan. merchandise inventory purchases paid in Feb. Feb.-Feb. merchandise inventory purchases paid in Feb. Total payments for merchandise inventory