William Company has the following information:

Month Budgeted Purchases

January $28,600

February 28,000

March 32,400

April 29,480

May 27,680

Purchases are paid as follows:

10% in the month of purchase

50% one month after purchase

40% two months after purchase

Required:

1. What is the expected cash payment in January?
2. What is the expected cash payment for the first quarter of the year?
3. What is the expected balance in Accounts Payable at March 31?