Question 1.

Question 2.

On January 5 , Ceramic Products collected $12,000 of its accounts receivable and paid $11,000 on its note payable In a trial balance prepared for Ceramic Products on January 1, Year 2, the total of the credit column is: Multiple Choice $182,000. $196000. $166,000. $286,000. On January 5, Year 2, Ceramic Products collected $12,000 of its accounts receivable and paid $11,000 on its note payable. On January 6, Year 2, total liabilities are: Multiple Choice $0. $30,000. $56,000. $41,000