Multiple Choice
Fortune Company's direct materials budget shows the following cost of materials to be purchased for the coming three months: 
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 $6,500. The expected January 31 Accounts Payable balance is:
A) $6,500.
B) $7,075.
C) $12,040.
D) $6,020.
E) $9,270.
Correct Answer:
Verified
Correct Answer:
Verified
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