15 2 The balance in A/P at year end was reported by the client as $1,500,000. The auditor decided to send confirmations to vendors as follows: 1. Confirmations were sent to all vendors with balances greater than $50,000 for a total of $200,000. A misstatement of $1,000 was found. 2. Of the remaining $1,300,000 in A/P, the auditor selected 20 vendor balances (totaling $400,000) to confirm. Misstatements of $3,000 were found in the sampled population. Calculate the total projected misstatement in A/P. (Use commas, no decimals, no $ sign.)