Merchandise purchases are budgeted for the 1st Quarter at $275,000 and 2nd Quarter $400,000. All purchases are made on credit and 65% is paid in the quarter of the purchase and the remaining 35% is paid in the quarter after the purchase. December 31 Accounts Payable of last year is $100,000 and will be paid in 1st quarter. Determine the amount to be paid for purchases in 1st Quarter (show and label all calculations).