EXERCISE 6.3 Tessa Ltd Tessa Ltd uses both special journals and a general journal as described in this chapter. On 30 june, after all monthly postings had been completed, the accounts receivable control account in the general ledger had a debit balance of $193,670; the accounts payable control account had a credit balance of $47,440. The July transactions recorded in the special journals are summarised below. No entries affecting accounts receivable and accounts payable were recorded in the general journal forjuly. Sales journal Total sales $123,200 Purchases journal Total purchases $27,000 Cash receipts journal Accounts receivable column total $64,730 Cash payments journal Accounts payable column total $22,060 (a) What is the balance of the accounts receivable control account after the monthly postings on 31 july? $261,650. Beginning balance of $200,000 plus $125,150 debit from sales journal less $63,500 credit from cash receipts journal. (b) What is the balance of the accounts payable control account after the monthly postings on 31 july? $48,430. Beginning balance of $45,000 plus $27,180 credit from purchases journal less $23,750 debit from cash payments journal