The following information was taken from the accounting
records of CJTR Company as of December 31, 2020:
Accounts Payable .......... ?
Accounts Receivable ....... $43,000
Building .................. $68,000
Cash ...................... $17,000
Common Stock .............. $62,000
Cost of Goods Sold ........ $41,000
Dividends ................. ?
Equipment ................. $79,000
Interest Revenue .......... $46,000
Inventory ................. $63,000
Land ...................... $82,000
Notes Payable ............. $65,000
Rent Expense .............. $17,000
Retained Earnings ......... ?
Salaries Expense .......... $52,000
Salaries Payable .......... $29,000
Sales Revenue ............. $94,000
Supplies .................. $28,000
Trademark ................. $18,000Additional information:
1) At January 1, 2020, CJTR Company reported total
assets of $223,000; total liabilities of $121,000;
and common stock of $40,000.
2) 20% of CJTR’s 2020 net income was paid to stockholders
as dividends.
Calculate the balance in the accounts payable account at
December 31, 2020.