Question: Sheldon Company began Year 2 with $ 1 , 5 0 0 in accounts payable. During the year, the company incurred utility expense of $

Sheldon Company began Year 2 with $1,500 in accounts payable. During the year, the company incurred utility expense of $3,500 on account. The company paid $2,000 on accounts payable by year end. The company also paid a cash dividend of $500. At the end of Year 2, what is the balance in Sheldons accounts payable?

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