At the end of the first month of operations for SloMo Delivery Service, the business had the following accounts: Accounts Receivable, $1,270; Prepaid Insurance, $570; Equipment, $36,900 and Cash, $41,000. On the same date, SloMo owed the following creditors: Simpson Supply Company, $12,700; Allen Office Equipment, $9,850.

The total amount of Liabilities is:

Multiple Choice

(A) $36,900

(B) $41,000

(C) $9,850

(D) $22,550