Ayala Company Showed the Following Balances at the End of Its

Multiple Choice

Ayala Company showed the following balances at the end of its first year: $$\begin{array} { l r } \text { Cash } & \$ 14,000 \\\text { Prepaid insurance } & 1,400 \\\text { Accounts receivable } & 7,000 \\\text { Accounts payable } & 5,600 \\\text { Notes payable } & 8,400 \\\text { Share capital-ordinary } & 2,800 \\\text { Dividends } & 1,400 \\\text { Revenues } & 42,000 \\\text { Expenses } & 35,000\end{array}$$ What did Ayala Company show as total credits on its trial balance?

A) $21,500
B) $21,000
C) $20,500
D) $22,000