Prepare the balance sheet as of December 31, 2020, for Gamma Company, from the following list of items which are arranged in random order. You must compute the amount for accounts payable to complete the balance sheet.

Accounts payable $ ? Land $260,000 Office equipment $41,600 Notes payable $377,000 Buildings $533,000 Accounts receivable $97,500 Capital stock $494,000 Cash $19,760