Assume a merchandising company's estimated sales for January, February, and March are $$120,000,$$$140,000,$ and $$130,000,$ respectively. Its cost of goods sold is always $55\%$ of its sales. The company always maintains ending merchandise inventory equal to $30\%$ of next month's cost of goods sold. it pays for $30\%$ of its inventory 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

$$48,510$

$$22,605$

$$52,745$

$$49,710$