Wison Trucking incorporated reports the following account balances (fisted in alphabeticat order) ot January 1, Year 2. On January 5, Year 2, wison Trucking collected $175,000 of its accounts receivable, paid $150,000 on its accounts payable, and paid $11,000 on its note payable. In a trual balance prepared on January 6 , Year 2 , the totat of the credit column is Muitiple Cheice 51350,000 11390000 $1560,000 $1721000 Which of the following statements about the preparation of financial statements is not correct? Multiple Choice The period of time covered by an income statement is the company's accounting period A fiscal year is ony accounting period less than 12 months in length. The length of a company's accounting period may vary Every business prepores annuol income statements. Transactions are recorded in the general journal in: Multiple Choice Numerical order. Chronological order Account number order. Financial stotement order