Wolfe Inc Wolfe Inc

Multiple Choice

Wolfe Inc. Wolfe Inc.reports these account balances at January 1,2014:
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.On January 31,2014,the total liabilities are:

A) $0
B) $56,000
C) $41,000
D) $30,000