The balance in Kemp Corp.'s accounts payable account at December 31, Year One, was $900,000 before any necessary year-end adjustment relating to the following:\ Goods were in transit to Kemp from a vendor on December 31, Year One. The invoice cost was $50,000. The goods were shipped F.O.B. shipping point on December 29, Year One, and were received on January 4, Year Two.\ Goods shipped F.O.B. destination on December 21, Year One, from a vendor to Kemp were received on January 6, Year Two. The invoice cost was $25,000.\ On December 27, Year One, Kemp wrote and recorded checks to creditors totaling $40,000 that were mailed on January 10, Year Two.\ In Kemp's December 31, Year One, balance sheet, the accounts payable should be: