The list that follows presents the accounts (in alphabetical order) of the Chapala Metal Company as of March 31, 20xx. The list does not include the amount of Accounts Payable.
Accounts Payable.........................................................?
Accounts Receivable............................................. $ 1,800
Building............................................................ 20,400
Cash .................................................................. 5,400
Equipment ........................................................... 7,200
G. Chapala, Capital ............................................... 18,870
Land .................................................................. 3,120
Notes Payable ...................................................... 12,000
Prepaid Insurance ...................................................... 660
Prepare a trial balance with the proper heading (see Exhibit 2) and with the accounts listed in the chart of accounts sequence (see Exhibit 3).
Compute the balance of Accounts Payable.