Determine the total dollar amount of credits

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Question - The following list of accounts appear in alphabetical order and were taken from ABC Corporation's ledger as of December 31, 2018. The Accounts Payable records were missing.

Accounts Payable

$?

Inventory

$7,000

Accounts Receivable

3,000

Land

5,000

Building

22,000

Notes Payable

12,000

Cash

9,000

Retained Earnings

11,000

Common Stock

20,000

Unearned Earnings

4,000

Cost of Goods Sold

2,000

Wage Expense

6,000

Dividends

1,000

Revenue

8,000

Equipment

10,000

 

 

Based on this information, determine the total dollar amount of credits that would appear in the company's trial balance.

A) $63,000

B) $67,000

C) $64,000

D) $69,000

E) $65,000

Reference no: EM132122462

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