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Homework: Week Five Exercises Chapter Question 5, S22-16 (similar to) HW Score: 10%, 1 of 10 points & O Points: 0 of 1 Save Hammond Company has budgeted purchases of merchandise inventory of $458,000 in January and $533,750 in February. Assume Hammond pays for inventory purchases 60% in the month of the purchase and 40% in the month after purchase. The Accounts Payable balance on December 31 is $97,900. Prepare a schedule of cash payments for purchases for January and February. (If an input field is not used in the table leave the input field empty; do not enter a zero.) Cash Payments January February Total merchandise inventory purchases January February Cash Payments Merchandise Inventory: Dec.-Dec. 31 Accounts Payable, paid in Jan. Jan.-Jan. merchandise inventory purchases paid in Jan. Jan.-Jan. merchandise inventory purchases paid in Feb. Feb. Feb. merchandise inventory purchases paid in Feb. Total payments for merchandise inventory Clear all Check answe Etext pages Get more help