Required information October-December October November December Materials purchases $10,240, 511,450 $9,700 Cash disbursements for Current month purchases (0) 0 Prior month purchases (100%) 7,060 10,240 11450 Total cash disbursements for direct materials 1060 STO,440 1750 Knowledge Check 01 IP Company pays for purchases of materials in full in the month following the purchase. During the previous month, IP had purchases of $25,000. During the current month, IP had purchases of $30,000. The amount that I will pay during the current month for purchases is