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Indirect Oil Co

Question 55

Multiple Choice

Indirect Oil Co.reports these account balances at December 31,2014 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.On January 3,2015,total liabilities are: A) $185,000. B) $165,000. C) $150,000. D) $70,000. On January 2,2015,Indirect Oil collected $25,000 of its accounts receivable and paid $20,000 of its accounts payable.On January 3,2015,total liabilities are:


A) $185,000.
B) $165,000.
C) $150,000.
D) $70,000.

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