! Required information [The following information applies to the questions displayed below.] 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 $ 120,000 $ 210,000 $ 270,000 $ 170,000 $ 90,000 $ 110,000 $ 250,000 $ 350,000 $ 80,000 On January 2, 2018, Montauk Oil collected $60,000 of its accounts receivable and paid $30,000 of its accounts payable. In a trial balance prepared at January 3, 2018, the total of the debit column is: Required information [The following information applies to the questions displayed below.] 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 $ 120,000 $ 210,000 $ 270,000 $ 170,000 $ 90,000 $ 110,000 $ 250,000 $ 350,000 $ 80,000 On January 2, 2018, Montauk Oil collected $60,000 of its accounts receivable and paid $30,000 of its accounts payable. In a trial balance prepared at December 31, 2017 the total of the debit column is: ! Required information [The following information applies to the questions displayed below.] 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 $ 120,000 $ 210,000 $ 270,000 $ 170,000 $ 90,000 $ 110,000 $ 250,000 $ 350,000 $ 80,000 On January 2, 2018, Montauk Oil collected $60,000 of its accounts receivable and paid $30,000 of its accounts payable. In a trial balance prepared at January 3, 2018, the total of the debit column is