Wolfe Inc. Wolfe Inc. Reports These Account Balances at January 1, 2015

Multiple Choice

Wolfe Inc.
Wolfe Inc. reports these account balances at January 1, 2015:

-See the account balances for Wolfe Inc. On January 31, Wolfe collected $12,000 of its accounts receivable and paid $11,000 on its note payable. In Wolfe's
Trial balance prepared on January 1, 2015, the total of the credit column is:

A) $182,000
B) $286,000
C) $196,000
D) $166,000