Assume a merchandising company$$s estimated sales for January, February, and March are $$100,000,$ $$120,000,$ and $$110,000,$ respectively. Its cost of goods sold is always $40\%$ of its sales. The company always maintains ending merchandise inventory equal to $10\%$ of next month$$s cost of goods sold. It pays for $25\%$ of its merchandise purchases in the month of the purchase and the remaining $75\%$ in the subsequent month. What is the accounts payable balance at the end of January?

Multiple Choice

$$35,700$

$$11,900$

$$30,600$

$$10,200$