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 $303,700; the Accounts Payable control account had a credit balance of $79,300. 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.

Total sales Sales journal Purchases journal Cash receipts journal Accounts receivable column total Cash payments journal Accounts payable column total $174,800 $59,700 $132,700 $48,200 Total purchases What is the balance of the Accounts Receivable control account after the monthly postings on July 31? LINK TO TEXT LINK TO TEXT 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 LINK TO TEXT LINK TO TEXT