Exercise 7-01 a-d (Part Level Submission) (Video) Sandhill 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 $304,800; the Accounts Payable control account had a credit balance of $82,300. 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 $174,600 Purchases journal Total purchases $51,700 Cash receipts journal Accounts receivable column total $133,300 Cash payments journal Accounts payable column total $40,900 (a) Your answer is correct. 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 346,100 Click if you would like to Show Work for this question: Open Show Work SHOW SOLUTION SHOW ANSWER LINK TO TEXT LINK TO TEXT VIDEO: SIMILAR EXERCISE Attempts: 1 of 5 used (b) Your answer is correct. 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 93,100 Click if you would like to Show Work for this question: Open Show Work * Your answer is incorrect. Try again. To what account(s) is the column total of $174,600 in the sales journal posted? X = Credit sales revenue and debit accounts payable in the general ledger Debit accounts receivable in the general ledger Credit accounts receivable in the general ledger Credit sales revenue and debit accounts receivable in the general ledger Debit cash in the general ledger Debit sales revenue and credit accounts payable in the general ledger Debit sales revenue and credit accounts receivable in the general ledger Credit sales revenue and debit accounts payable in the general ledger Credit cash in the general ledger