(LO 7) 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 $ 14,930 12,820 14,930 11, 11,750 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 $7,300. The expected January 31 Accounts Payable balance is: Multiple Choice $7,300 $7465. o oo $12,820 O $6.410