Fortune Company's direct materials budget shows the following cost of materials to be purchased for...
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Accounting
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
$ 12,100
14,210
11,030
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 $6,100. The budgeted cash payments for materials in January are:
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