Homework Answers
Total Liabilities for the period = $ 6,046
Liabilities are the amount payable to the outsiders. It has credit balance . In the given trial balance Accounts payable and Notes payable are part of the total liabilities.
Accordingly,
| Accounts Payable | $ 1,678 |
| Notes Payable | $ 4,368 |
| Total Liabilities = |
$ 6,046 |
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