Sunland Company uses both special journals and a general journal as described in this chapter. On June 30, after all monthly postings had been completed, the Accounts Receivable control account in the general ledger had a debit balance of $ 324,100; the Accounts Payable control account had a credit balance of $ 83,300. The July transactions recorded in the special journals are summarized below. No entries affecting accounts receivable and accounts payable were recorded in the general journal for July. Sales journal Total sales $ 158,000 Purchases journal Total purchases $ 51,400 Cash receipts journal Accounts receivable column total $ 137,100 Cash payments journal Accounts payable column total $ 48,600 (a) What is the balance of the Accounts Receivable control account after the monthly postings on July 31? The balance of the Accounts Receivable control account $ enter the balance of the accounts receivable control account in dollars (b) What is the balance of the Accounts Payable control account after the monthly postings on July 31? The balance of the Accounts Payable control account $ enter the balance of the accounts payable control account in dollars (c) To what account(s) is the column total of $ 158,000 in the sales journal posted? select an option Debit cash in the general ledger Credit sales revenue and debit accounts receivable in the general ledger Debit accounts receivable in the general ledger Debit sales revenue and credit accounts receivable in the general ledger Debit sales revenue and credit accounts payable in the general ledger Credit sales revenue and debit accounts payable in the general ledger Credit cash in the general ledger Credit accounts receivable in the general ledger (d) To what account(s) is the accounts receivable column total of $ 137,100 in the cash receipts journal posted? select an option Debit sales revenue and credit accounts payable in the general ledger Debit accounts receivable in the general ledger Credit sales revenue and debit accounts payable in the general ledger Credit accounts receivable in the general ledger Credit cash in the general ledger Debit sales revenue and credit accounts receivable in the general ledger Debit cash in the general ledger Credit sales revenue and debit accounts receivable in the general ledger
Sunland Company uses both special journals and a general journal as described in this chapter. On June 30, after all monthly postings had been completed, the
The July transactions recorded in the special journals are summarized below. No entries affecting accounts receivable and accounts payable were recorded in the general journal for July.
|
Sales journal |
Total sales |
$ 158,000 |
||
|
Purchases journal |
Total purchases |
$ 51,400 |
||
|
Cash receipts journal |
Accounts receivable column total |
$ 137,100 |
||
|
Cash payments journal |
Accounts payable column total |
$ 48,600 |
(a)
What is the balance of the Accounts Receivable control account after the monthly postings on July 31?
|
The balance of the Accounts Receivable control account |
$ enter the balance of the accounts receivable control account in dollars |
(b)
What is the balance of the Accounts Payable control account after the monthly postings on July 31?
|
The balance of the Accounts Payable control account |
$ enter the balance of the accounts payable control account in dollars |
(c)
To what account(s) is the column total of $ 158,000 in the sales journal posted?
select an option Debit cash in the general ledger Credit sales revenue and debit accounts receivable in the general ledger Debit accounts receivable in the general ledger Debit sales revenue and credit accounts receivable in the general ledger Debit sales revenue and credit accounts payable in the general ledger Credit sales revenue and debit accounts payable in the general ledger Credit cash in the general ledger Credit accounts receivable in the general ledger
(d)
To what account(s) is the accounts receivable column total of $ 137,100 in the cash receipts journal posted?
select an option Debit sales revenue and credit accounts payable in the general ledger Debit accounts receivable in the general ledger Credit sales revenue and debit accounts payable in the general ledger Credit accounts receivable in the general ledger Credit cash in the general ledger Debit sales revenue and credit accounts receivable in the general ledger Debit cash in the general ledger Credit sales revenue and debit accounts receivable in the general ledger
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