[The Following Information Applies to the Questions Displayed Below

question 137

Multiple Choice

[The following information applies to the questions displayed below.]
Montauk Oil Co.reports these account balances at December 31,2017
On January 2,2018,Montauk Oil collected $50,000 of its accounts receivable and paid $20,000 of its accounts payable.
-In a trial balance prepared at January 3,2018,the total of the debit column is:

• A)$760,000.
• B)$1,570,000.
• C)$740,000.
• D)$370,000.

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