Maria Miller, Coronado \& Richard Fabricators' accounts payable manager, has just received the company's direct materials purchases budget for the first quarter. The company makes all of its direct materials purchases on account. Maria's recent review of the company's payment history revealed that the company pays for 25% of its direct materials purchases in the month of purchase and 75% in the month following purchase. The company expects to have an accounts payable balance of $18,000 on January 1 , and this amount represents the remaining payables from December's direct materials purchases. Prepare Coronado \& Richard's cash payments budget for the first Quarter. (Enter answers in necessary fields only. Leave other fields blank. Do not enter 0.) Calculate the accounts payable balance at the end of first Quarter. Accounts Payable balance $