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What the expected january accounts payable balance is

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Reference no: EM132521903

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             $ 12,460           14,570              11,390

Question 1: 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:

Option 1: $9,580.

Option 2: $6,700.

Option 3: $6,230.

Option 4: $7,285.

Option 5: $12,460.

Reference no: EM132521903

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