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PLEASE SOLVE. one hour left for submittion! Kuna Co sells goods and performs services for various customers on credit. On June 1, 2021 Accounts Receivable

PLEASE SOLVE. one hour left for submittion! image text in transcribed
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Kuna Co sells goods and performs services for various customers on credit. On June 1, 2021 "Accounts Receivable" had a debit balance of $600. During the month of June the following transactions occurred. Date 7/6 13/6 16/6 20/6 27/6 Transaction description Sold goods to customer X for $400. Credit terms 3/10, n/30. Performed services for customer Y and billed the customer $200. Customer X returned goods with a sales price of $120. Received a partial payment of $100 from customer Y. Received payment from customer X 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) DATE ACCOUNT TITLES DEBIT CREDIT June 7 . S $ Cash DATE Sales Returns & Allowances DEBIT CREDIT June 13 Service Revenue Sales Revenue Accounts Payable DATE DEBIT CREDIT Inventory June 16 $ Accounts Receivable Sales Discounts DATE ACCOUNT TITLES DEBIT CREDIT June 20 $ - DATE ACCOUNT TITLES DEBIT CREDIT June 27

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