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What is the total amount of liabilities

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Question - At the end of the first month of operations for SloMo Delivery Service, the business had the following accounts: Accounts Receivable, $1,220; Prepaid Insurance, $520; Equipment, $36,400 and Cash, $40,750. On the same date, SloMo owed the following creditors: Simpson Supply Company, $12,200; Allen Office Equipment, $9,600.

What is the total amount of Liabilities?

a. $9,600

b. $40,750

c. $21,800

d. $36,400

Reference no: EM132477960

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