Reference no: EM131702018
Question -
1. Issued 79,000 shares of no par common stock for $452,000.
2. Issued 9,000 shares of $10 par-value, 8%, preferred stock for $20,000.
3. Signed a 5-year, 5%, note with the Bank One for $103,000.
4. Paid $27,600 annual rent for office and warehouse space.
5. Purchased $51,500 of office furniture and computer equipment. Paid 36% down and signed a 3-year unsecured note for the remainder.
6. Purchased $907 supplies on account.
7. Paid $574 for freight and delivery on the office furniture. Paid $548, set-up charges for the computer equipment.
8. Received the supplies and discovered that $101 of the supplies did not match the invoice. The company returned the incorrect items, notified the supplier and recievd a credit on the store account.
9. Paid $16,446 for a full year of fire and liability insurance.
10. Paid 42% of the remaining supply invoices in time to take a 3% discount.
What will The Cookie Company report for accounts payable in its January 31 balance sheet? (Round to the nearest $1)
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