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The list that follows presents Shah Corporation's accounts (in alphabetical order) as of March 31, 2014. The list does not include the amount of Accounts Payable.
Accounts Payable
?
Equipment
$ 7,200
Accounts Receivable
$ 1,800
Land
3,120
Building
20,400
Notes Payable
10,000
Cash
5,400
Prepaid Insurance
660
Common Stock
12,000
Retained Earnings
6,870
Prepare a trial balance with the proper heading (see Exhibit 7) and with the accounts listed in the chart of accounts sequence (see Exhibit 2). Compute the balance of Accounts Payable.
Text Book: Financial and Managerial Accounting By Belverd Needles, Marian Powers, Susan V. Crosson.
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