QUESTION 8 During its first year of operations, a company entered into the following transactions: Borrowed 55,010 from the bank by signing a promissory note. Issued stock to owners for $10,100. Purchased 51,010 of supplies on account. Paid $410 to suppliers as payment on account for the supplies purchased. What is the amount of total liabilities at the end of the year? $15.710 $6,020 5600 55,610 None of the above