[The following information applies to the questions displayed below.]
Wilson Trucking,Inc.reports these account balances at January 1,2018 (shown in alphabetical order):
On January 5,Wilson 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 trial balance prepared on January 6,2018,the total of the credit column is:
A)$1,350,000.
B)$1,399,000.
C)$1,560,000.
D)$1,721,000.

Question

[The following information applies to the questions displayed below.]
Wilson Trucking,Inc.reports these account balances at January 1,2018 (shown in alphabetical order):
  On January 5,Wilson 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 trial balance prepared on January 6,2018,the total of the credit column is:
A)$1,350,000. 
B)$1,399,000. 
C)$1,560,000. 
D)$1,721,000.

Quizplus · Accepted Answer

The correct answer is determined by ensuring that the total of the credit column matches the total of the debit column in a trial balance, as they should be equal to demonstrate that the accounting equation is balanced. Without specific details of the trial balance, it's not possible to provide a detailed explanation for choosing option B over the others. This answer assumes familiarity with the specific trial balance in question, which is not provided here.

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