Payne Company provided the following information relevant to its inventory sales and purchases for December 2013 and the first quarter of 2014. Desired ending inventory levels are 25% of the following month's projected cost of goods sold. The company purchases all inventory on account. January 2014 budgeted purchases are $150,000. The normal schedule for inventory payments is 60% payment in month of purchase and 40% payment in month following purchase. Budgeted cash payments for inventory in February 2014 would be