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Calculate the expected january accounts payable balance

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Question - Fortune Company's direct materials budget shows the following cost of materials to be purchased for the coming three months:

January February March

Material purchases 14,570 11,390 12,460

Payments for purchases are expected to be made 50% in the month of purchase and 50% in the month following purchase. The December Accounts Payable balance is $6,700. The expected January 31 Accounts Payable balance is:

$6,700.

$7,285.

$12,460.

$6,230.

Reference no: EM132197246

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