Hill Company has budgeted purchases of merchandise inventory of $454,500 in January and $530,500 in February Assume Hill pays for inventory purchases 40% in the month of the purchase and 60% in the month after purchase The Accounts Payable balance on December 31 is 597 775. 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 emply 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