Exercise 7-01 a-d (Part Level Submission) (Video) Nex 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 $340,000; the Accounts Payable control account had a credit balance of $77,000. 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 | | $161,400 | Purchases journal | | Total purchases | | $66,400 | Cash receipts journal | | Accounts receivable column total | | $131,000 | Cash payments journal | | Accounts payable column total | | $47,500 | |