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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 $13,240$15,350$12,170 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 budgeted cash payments for materials in January are: $8,000.$14,620.$14,295.$21,240.$10,620