Jefferson Company has budgeted purchases o merchandise inventory of $457 500 n January and S533 50 n February. Assume Jefferson pays or inventory purchases 70% the month ofthe purchase and 0% the month after purchase. The Accounts Payable balance on December 31 is $98,275. Prepare a schedule of cash payments for purchases for January and February. (If a box is not used in the table leave the box empty, do not enter a zero.) Cash Payments January February Total merchandise inventory purchases JanuaryFebruary Cash Payments Merchandise Inventory c. 31 Accounts Payable, paid in Jan. n.-Jan. merchandise inventory purchases paid in Jan. Jan.-Jan. merchandise inventory purchases paid in Feb. Feb.-Feb. merchandise inventory purchases paid in Felb Total payments for merchandise inventory