Homework: Week Six : Chapter 7: Exercises Save Score: 0 of 1 pt 8 of 15 (2 complete) HW Score: 13.33%, 2 of 15 pt S22-10 (similar to) Question Help Yasmin Company budgeted direct materials purchases of $191,990 in January and $139,360 in February. Assume Yasmin pays for direct materials purchases 80% in the month of purchase and 20% in the month after purchase. The Accounts Payable balance on January 1 is $70,000. Prepare a schedule of cash payments for purchases for January and February. Round to the nearest dollar. Begin by computing the total cash payments for direct materials for January and February. Then, compute the Accounts Payable balance at February 28. (Round all amounts you enter into the budget to the nearest whole dollar. If a box is not used in the table leave the box empty, do not enter a zero.) Cash Payments January February Total direct materials purchases January February Cash Payments Direct Materials: Accounts Payable balance, January 1 Jan-Jan, direct material purchases paid in Jan. Jan-Jan. direct material purchases paid in Feb. Feb.-Feb. direct material purchases paid in Feb. Total payments for direct materials Enter any number in the edit fields and then click Check Answer 1 part remaining Clear All Check Answer This course (ACCT 1090 V0852) is based on Custom My Accountinglab for ACCTG 1090 for Macomb Community College