Following is a list of account balances (except for owner's capital) of Wilson Mowing Service as of December 31 of the first year of operation:
The proprietor, J.D. Wilson, contributed $3,000 at the beginning of the year: during the year, the proprietor took $12,000 in drawings.
At the end of the year, what is the amount of total liabilities?
A) $11,900
B) $24,100
C) $21,200
D) $12,200
Correct Answer:
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