Reference no: EM132462835
Problem - Wilson Trucking, Inc. reports these account balances at January 1, 2018 (shown in alphabetical order):
Accounts Payable $220,000
Accounts Receivable $200,000
Buildings $480,000
Capital Stock $680,000
Cash $160,000
Equipment $320,000
Land $400,000
Notes Payable $520,000
Retained Earnings $140,000
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.
Required - In a trial balance prepared on January 6, 2018, calculate the total of the credit column?
a. $1,350,000.
b. $1,399,000.
c. $1,560,000.
d. $1,721,000.
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