Question
Wilson Trucking, Incorporated reports these account balances at January 1, Year 2 (shown in alphabetical order): Accounts Payable $ 230,000 Accounts Receivable 210,000 Buildings 490,000
Wilson Trucking, Incorporated reports these account balances at January 1, Year 2 (shown in alphabetical order): Accounts Payable $ 230,000 Accounts Receivable 210,000 Buildings 490,000 Capital Stock 690,000 Cash 170,000 Equipment 330,000 Land 410,000 Notes Payable 530,000 Retained Earnings 160,000 On January 5, Year 2, Wilson Trucking collected $185,000 of its accounts receivable, paid $160,000 on its accounts payable, and paid $21,000 on its note payable. In a trial balance prepared for Wilson Trucking on January 1, Year 2, the total of the credit column is:
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