The Trial Balance of a company as of May 31, 2008 reported the following accounts.

Unearned Rent

$7,700

Common Stock

$ 38,000

Utilities expense

4,200

Cash

27,000

Accounts Receivable

4,500

Prepaid Insurance

5,700

Accounts payable

???

Dividends

1,500

Building

48,000

Consulting Fees

23,000

Retained earnings

9,500

Office Supplies

4,000

Determine the balance of the Accounts Payable account, if all accounts have normal balances. Please explain how you got your answer.

a.

$16,700

b.

$12,200

c.

$21,900

d.

$13,700