On January 2, 2015, Indirect Oil collected $25,000 of its accounts receivable and paid $20,000 of its accounts payable.

27.

Required information

Refer to the information above. In a trial balance prepared at December 31, 2014the total of the debit column is:

$805,000.

$780,000.

$415,000.

$390,000.

28.

Required information

Refer to the information above. In a trial balance prepared at January 3, 2015, the total of the debit column is:

$760,000.

$825,000.

$740,000.

$370,000