Required informationrefer to the information above in a

Question

Indirect Oil Co. reports these account balances at December 31, 2014

On January 2, 2015, Indirect Oil collected $25,000 of its accounts receivable and paid $20,000 of its accounts payable.

27. Required information Refer to the information above. In a trial balance prepared at December 31, 2014 the total of the debit column is:

$805,000.
$780,000.
$415,000.
$390,000.

28. Required information Refer to the information above. In a trial balance prepared at January 3, 2015, the total of the debit column is:

$760,000.
$825,000.
$740,000.
$370,000