Date	Transaction description
5/6	Performed services for customer Beta and billed the customer $300.
11/6	Sold goods to customer Alpha for $200. Credit terms 2/10, n/30.
14/6	Received a partial payment of $150 from customer Beta.
18/6	Customer Alpha returned goods with a sales price of $60.
25/6	Received payment from customer Alpha for the balance due

Required: (a) Prepare the journal entries for the above transactions (Ignore COGS) (20 pts) (b) What is the balance of Accounts Receivable on June 30 (5 pts)

A)

DATE	ACCOUNT TITLES		DEBIT	CREDIT
June 5	AnswerAccounts ReceivableAccounts PayableInventorySales DiscountsSales Returns & AllowancesService RevenueSales RevenueCash		$Answer
		AnswerInventorySales DiscountsCashAccounts PayableService RevenueAccounts ReceivableSales RevenueSales Returns & Allowances		$Answer

DATE	ACCOUNT TITLES		DEBIT	CREDIT
June 11	AnswerSales RevenueInventoryAccounts PayableSales Returns & AllowancesCashService RevenueSales DiscountsAccounts Receivable		$Answer
		AnswerCashInventorySales Returns & AllowancesSales RevenueService RevenueAccounts PayableAccounts ReceivableSales Discounts		$Answer

DATE	ACCOUNT TITLES		DEBIT	CREDIT
June 14	AnswerAccounts PayableSales RevenueInventorySales Returns & AllowancesSales DiscountsService RevenueCashAccounts Receivable		$Answer
		AnswerSales DiscountsService RevenueSales RevenueAccounts PayableSales Returns & AllowancesCashInventoryAccounts Receivable		$Answer

DATE	ACCOUNT TITLES		DEBIT	CREDIT
June 18	AnswerSales RevenueAccounts ReceivableService RevenueCashSales Returns & AllowancesSales DiscountsInventoryAccounts Payable		$Answer
		AnswerAccounts ReceivableInventoryCashSales DiscountsSales RevenueAccounts PayableSales Returns & AllowancesService Revenue		$Answer

DATE	ACCOUNT TITLES		DEBIT	CREDIT
June 25	AnswerService RevenueInventorySales RevenueCashSales DiscountsAccounts PayableAccounts ReceivableSales Returns & Allowances		$Answer
		AnswerInventorySales RevenueCashSales DiscountsService RevenueAccounts ReceivableSales Returns & AllowancesAccounts Payable		$Answer

B)

The balance of Accounts Receivable on June 30 is: ($) Debit/Credit