7 Assume a merchandising company's estimated sales for January, February, and March are $105,000, $125,000, and $115,000, respectively. Its cost of goods sold is always 60% of its sales. The company always maintains ending merchandise inventory equal to 15% of next month's cost of goods sold. It pays for 20% of its merchandise purchases in the month of the purchase and the remaining 80% in the subsequent month. What is the accounts payable balance at the end of February? 4 points Multiple Choice O $51,840 O $14,820 O $52,890 O $59,280