On January 15, Evergreen Market paid off $4,000 of its bank loan, giving cash (disregard interest).

Change the following January 14 balance sheet so that it reports the financial condition on January 15.

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EVERGREEN MARKET BALANCE SHEET AS OF JANUARY 14 Assets Liabilities & Equity Cash.. Accounts Receivable.. $44,400 Accounts Payable $ 4,000 1,800 Note Payable 10,000 Inventory 5,800 Mortgage Payable 8,000 Prepaid Insurance.. 500 Berg, Capital 40,000 Land.. 10,000 Retained Earnings 500 Total... $62,500 Total.... $62,500