Calculate the balance in the salaries payable account

Calculate the balance in the salaries payable account

Subject: Business    / Accounting
Question
ASSETS:

Cash ? 59,000

Accounts receivable 71,000 ?

Inventory ? 90,000

Prepaid insurance 13,000 ?

Investments ? ?

Land ? 73,000

LIABILITIES + EQUITY:

Accounts payable 39,000 32,000

Salaries payable 11,000 ?

Unearned revenue 10,000 21,000

Notes payable ? ?

Common stock 104,000 130,000

Retained earnings 58,000 67,000

ABC Company’s 2019 income statement is given below:

Sales revenue: 385,000

Cost of goods sold: 194,000

Salaries expense: 79,000

Insurance expense: 62,000

Loss on sale of land: 17,000

Net income: 33,000

The following cash flows were taken from ABC Company’s 2019 statement of cash flows

Cash collected from customers 404,000
Cash received from the sale of land 16,000
Cash received from bank loans 15,000
Cash received from the issue of common stock ?
Cash paid to purchase inventory <207,000>
Cash paid for salaries <71,000>
Cash paid for insurance <59,000>
Cash paid to purchase land <57,000>
Cash paid to purchase investments <24,000>
Cash paid for dividends ?

Calculate the balance in the salaries payable account at December 31, 2019. Do not use decimals in your answer.