Assume a merchandising company's estimated sales for January, February, and March are $117,000,$137,000, and $127,000, respectively, its cost of goods sold is always 60% of its sales. The company always maintains ending merchandise inventory equal to 20% of next month's cost of goods sold. it pays for 30% of its merchandise purchases in the month of the purchase and the remaining 70% in the subsequent month. What is the accounts payable balance at the end of February? Multiple Choice $50.820 $24.300 $51,990 $56,700