1. Determine the financial statement effects of Accounts Payable Transactions, when Hobson Company has the following items: a. Purchases $1,250 of inventory on credit. b. Sells inventory for $1,650 on credit. c. Records $1,260 cost of sales for transaction b. d. Receives $1,650 cash towards accounts receivable. e. Pays $1,260 cash to settle accounts payable. What is the ending balance of Accounts Payable after the above transactions