The balance in Moon Co.'s accounts payable account at December 31, 2014 was $950,000 before any necessary year-end adjustments relating to the following:

Goods were in transit to Moon from a vendor on December 31, 2014. The invoice cost was $40,000. The goods were shipped f.o.b. shipping point on December 29, 2014 and were received on January 4, 2015.

Goods shipped f.o.b. destination on December 21, 2014 from a vendor to Moon were received on January 6, 2015. The invoice cost was $25,000.

On December 27, 2014, Moon wrote and recorded checks to creditors totaling $30,000 that were mailed on January 10, 2015.

In Moon's December 31, 2014 balance sheet, the accounts payable should be