Jefferson Company has budgeted purchases of merchandise inventory of $455,500 in January and $533,000 in February. Assume Jefferson 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 $97,775. 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 empty; do not enter a zero.) Cash Payments January Total merchandise inventory purchases February 455,500 $533,000 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 97,775 318,850 $ 136,650 373,100 416,625 $ 509,750