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Following Is a List of Account Balances of Wilson Mowing

question 61

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Following is a list of account balances of Wilson Mowing Service as at 31 December of the first year of operation:
 Accounts receivable $6000 Accounts payable 7000 Salary expense 7000 Repairs expense 800 Truck 10,000 Equipment 12,000 Loans payable 8100 Cash 7400 Supplies expense 1300 Service revenue 35,000 Petrol expense 2900 Salary payable 300\begin{array} { | l | l | } \hline \text { Accounts receivable } & \$ 6000 \\\hline \text { Accounts payable } & 7000 \\\hline \text { Salary expense } & 7000 \\\hline \text { Repairs expense } & 800 \\\hline \text { Truck } & 10,000 \\\hline \text { Equipment } & 12,000 \\\hline \text { Loans payable } & 8100 \\\hline \text { Cash } & 7400 \\\hline \text { Supplies expense } & 1300 \\\hline \text { Service revenue } & 35,000 \\\hline \text { Petrol expense } & 2900 \\\hline \text { Salary payable } & 300 \\\hline\end{array}
At the end of the year,what is the amount of total liabilities?

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Definitions:

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