[The Following Information Applies to the Questions Displayed Below

question 2

Multiple Choice

[The following information applies to the questions displayed below.]
Wilson Trucking,Inc.reports these account balances at January 1,2018 (shown in alphabetical order) :
On January 5,Wilson Trucking collected $175,000 of its accounts receivable,paid $150,000 on its accounts payable,and paid $11,000 on its note payable.
-In a trial balance prepared for Wilson Trucking on January 6,2018,the total of the debit column is:

• A)$1,580,000.
• B)$1,399,000.
• C)$1,620,000.
• D)$3,120,000.

---

Definitions:

Contract Formation

The process by which parties reach an agreement on the terms of a contract, creating mutual obligations enforceable by law.

Revocation

In general, the recalling or voiding of a prior action. In contract law, the withdrawal of an offer by the offeror prior to effective acceptance by the offeree.

Dispatched

The act of sending someone or something off to a destination or for a specific purpose, often related to the delivery of goods or services.

Power To Revoke

The legal authority to cancel or withdraw a decision, offer, or agreement.