The Accounts Payable account has a $4,100 credit balance. An entry for the payment of $1,550 on the amount owed is recorded and posted. The new balance of the Accounts Payable account is

Multiple Choice:

• 1. $2,550 credit balance.

• 2. $5,650 debit balance.

• 3. $5,650 credit balance.

• 4. $2,550 debit balance