Trailer Company has budgeted purchases of merchandise inventory of $455,500 in January and $534,500 in February. Assume Trailer pays for inventory purchases 60% in the month of the purchase and 40% in the month after purchase. The Accounts Payable balance on December 31 is 597,275. Prepare a schedule of cash payments for purchases for January and February (If a box is not used in the table leave the box empty, do not enter a zero.) Cash Payments January February Total merchandise inventory purchases January February Cash Payments Merchandise Inventory: Dec.-Dec. 31 Accounts Payable, paid in Jan. Jan-Jan, merchandise inventory purchases paid in Jan. Jan-Jan, merchandise inventory purchases paid in Feb. Feb-Feb merchandise inventory purchases paid in Feb. Total payments for merchandise inventory