Montauk Oil Co. reports these account balances at December 31, 2017 Accounts Payable Land Notes Payable Equipment Cash Accounts Receivable Buildings Capital stock Retained Earnings $110,000 $200, 000 $260, 000 $160,000 $ 80,000 $100,000 $240,000 $340,000 $ 70,000 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 December 31, 2017 the total of the debit column is Select one O a. $1,540,000 O b. $780,000. O c. $1,020,000. O d. $700,000