One Trick Pony (OTP) incorporated and began operations near the end of the year, resulting in the following post-closing balances at December 31: Cashi Accounts Receivable Allowance for Doubtful Accounta Inventory Deferred Revenue (40 units) Accounts Payable Notes Payable (long-term) $ 52,200 13,600 390 3,500 5,200 1,590 36,000 21,600 4,520. Common Stock Retained Earnings * credit balance. The following information is relevant to the first month of operations in the following year: . OTP will sell inventory at $130 per unit. OTP's January 1 inventory balance consists of 50 units at a total cost of $3,500. OTP's policy is to use the FIFO method, recorded using a perpetual inventory system. In December, OTP received a $5,200 payment for 40 units OTP is to deliver in January; this obligation was recorded in Deferred Revenue. Rent of $1,040 was unpaid and recorded in Accounts Payable at December 31. OTP's notes payable mature in three years, and accrue interest at a 10% annual rate.