Winter Gear, Inc. business on January 1, 20X1.The company used the actual write-off of the receivable for the recorded bad debt expense in the below income statement.

Credit sales$678,000Bad debt expense as a percentage of sales2%Write-off of accounts receivable$1,000Tax rate30%Estimated tax payment$31,000

Incorrect income statement, for the year ended December 31

Sales$678,000Expenses549,200Bad debt expense1,000Pretax income127,800Tax expense38,340Net income89,460

Assuming estimated tax payment of $31,000 what istaxes payable in 20X1?

Taxes payable is a credit balance account,do not use bracketsin your solution.