Kuna Co sells goods and performs services for various customers on credit. On June 1, 2021 "Accounts Receivable" had a debit balance of $200. During the month of June the following transactions occurred. Date 1/6 7/6 10/6 14/6 21/6 Transaction description Sold goods to customer Beta for $500. Credit terms 1/10,n/30. Performed services for customer Alpha and billed the customer $100. Customer Beta returned goods with a sales price of $150. Received a partial payment of $50 from customer Alpha. Received payment from customer Beta 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) SOLUTION DATE ACCOUNT TITLES DEBIT CREDIT June 1 . F DATE ACCOUNT TITLES DEBIT CREDIT June 7 4 DATE ACCOUNT TITLES DEBIT CREDIT June 10 Required: () 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) SOLUTION (a) DATE ACCOUNT TITLES DEBIT CREDIT Juret . DATE ACCOUNT TITLES DEBIT CREDIT June 7 $ DATE ACCOUNT TITLES DEBIT CREDIT June 10 DATE ACCOUNT TITLES DEBIT CREDIT June 14 DATE ACCOUNT TITLES DEBIT CREDIT June 21 . (b) The balance of Accounts Receivable on June 30 is: $ DE DATE ACCOUNT TITLES June 7 . Sales Returns & Allowances DE DATE Accounts Receivable June 16 $ Cash Sales Revenue Inventory DATE DE June 12 Service Revenue $ Sal Discounts Accounts Payable DATE DE June 21 DEBIT DATE ACCOUNT TITLES une 7 0 DATE AC Cash DEBIT ine 10 $ Accounts Payable Service Revenue Sales Discounts PATE AC DEBIT ane 14 Inventory $ Accounts Receivable Sales Returns & Allowances ATE AC DEBIT ane 21 Sales Revenue $ DATE ACCOUNT TITLES DEBIT CREDIT June 21 Debit (b) Credit The balance of Accounts Receivable on June 30 is: $