The Cookie Company was incorporated on January 1, 2015.The following transactionsoccurred in the month of January.

1.Issued 93,000 shares ofno par common stock for $404,000.

2. Issued 2,000 shares of $10 par-value, 8%, preferred stock for $33,000.

3.Signed a 5-year,5%, note with the Bank One for $149,000.

4.Paid $39,600annual rent foroffice and warehouse space.

5.Purchased $38,500 of office furniture and computer equipment. Paid33% down and signed a 3-yearunsecured note for the remainder.

6. Purchased $1,485 supplies on account.

7. Paid $490 for freight and delivery on the office furniture. Paid $513, set-up charges for the computer equipment.

8. Received the supplies and discovered that $88 of the supplies did not match the invoice. The company returned the incorrect items, notified the supplier and recievd a credit on the store account.

9. Paid $14,875 for a full year of fire and liability insurance.

10. Paid 20% of the remaining supply invoices in time to take a 1% discount.

What willl The Cookie Company report for accounts payable in its January 31 balance sheet? (Round to the nearest $1)