Montauk Oil Co. reports these account balances at December 31, 2016 Accounts Payable $110.000 Land... $200,000 Notes Payable. $260.000 Equipment... $160,000 Cash... $80,000 Accounts Receivable. $100,000 Buildings...... $240,000 Capital Stock $340,000 Retained Earnings. $70,000 On January 2, 2017, Montauk Oil collected $50,000 of its accounts receivable and paid $20,000 of its accounts payable. Refer to the information above. In a trial balance prepared at January 3, 2017, the total of the debit column is: $1,570,000 $740,000 $370,000. $760,000