[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.

Question

[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.

Quizplus · Accepted Answer

In a trial balance, the total of the debit column must equal the total of the credit column. Without specific details about the credits or the individual accounts, it's impossible to determine the correct answer based on the information provided. However, since only one option is requested, it's acknowledged that this response is based on the need to select an answer despite the lack of sufficient information to make an informed choice.

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