S22A-18 (similar to) E Question Help Jackson Company has budgeted purchases of merchandise inventory of $454 000 in January and $532 500 in February Assume Jackson pays for inventory purchases 70% in the month of the purchase and 30% in the month after pa chase The Accounts Payable balance on December 316 S9742 Prepare a sd dle of cash payments for purchases for January and February (i a box is not used in the table leave the box empty, do not entor a zoro ) JanuaryFebruary Total merchandise inventory purchases Janusry Februsry Cash Payments Merchandise Inventory Dec 31 Accounts Payable, paid in Jan Jan --Jan merchandise inventory purchases paid in Jan Jan. -Jan merchandise inventory purchases pald in Feb paid in Feb Total payments for merchandise inventory