The Denver Corporation has forecast the following is for the first seven months $ January February 20.000 y 22.000 June $20.000 26.000 Monthly material purchases are equal to 40 percent of forecast sales for the next month of the total maand , 50 percentare paid in the month of purchase and 50 percent in the following month Labor costs will run 35.000 per month and fred overhead is $7,000 per month interest payments on the debt wil be $4,000 for both March and June. Finally, the Denver Salesforce will receive a 3.00 percent Commission on total sales for the first six months of the year to be paid on June 30 Prepare a monthly summary of cash payments for the six-month period from January & prior December purchases to help get total material payments for January Denver Corporation Cash Payments Schedule December January February March 20.000 $ 22.000 24 000 May June April $30,000 20.000 20.000 Payment to material Durchases Medved III Total payments