The list that follows presents the accounts of the Gobi Metal Corporation as of March 31, 20xx, in alphabetical order. The list does not include the amount of Accounts Payable.

Prepare a trial balance with the proper heading (see Exhibit 3) and with the accounts listed in the chart of accounts sequence (see Exhibit 1). Compute the balance of Accounts Payable.

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Accounts Payable Accounts Receivable ? $ 3,000 Building 34,000 Cash 9,000 Common Stock 20,000 Equipment 12,000 Land 5,200 Notes Payable 20,000 Prepaid Insurance 1,100 Retained Earnings 11,450