si 6 LENA | 6o6te pomoh oh m.xythos.prod/591f52710d708/646058?response-content-disposition=inline%3B%20filenan 6 overleaf Welcome, Kimbra -... Nearpod Technolo... Kimbra BenzelActivi... Deter balan of spe (LO 2 CHAPTER 7 EXERCISES: SET B E7-1B Cope 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 Receiv. able control account in the general ledger had a debit balance of $200,000; the Accounts Payable control account had a credit balance of $120,000. 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 $252,000 Purchases journal Total purchases $151,000 Cash receipts journal Accounts receivable column total $211,000 Cash payments journal Accounts payable column total $152,000 Instructions (a) What is the balance of the Accounts Receivable control account after the monthly postings on July 31? (b) What is the balance of the Accounts Payable control account after the monthly post ings on July 31? (c) To what account(s) is the column total of $252,000 in the sales journal posted? (d) To what account(s) is the accounts receivable column total of $231,000 in the cash receipts journal posted? E7-2B Presented below is the subsidiary accounts receivable account of Morgan Hoover. Expla subsi (LO 2 Date Ref. Debit Credit Balance 2017 Sept. 4 S29 16,000 16,000 G4 2,000 14,000 23 CR9 14,000 Instructions CHAPTER 7 EXERCISES: SET B E7-1B Cope 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 Receiv. able control account in the general ledger had a debit balance of $200,000; the Accounts Payable control account had a credit balance of $120,000. 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 $252,000 Purchases journal Total purchases $151,000 Cash receipts journal Accounts receivable column total $211,000 Accounts payable column total $152,000 Instructions (a) What is the balance of the Accounts Receivable control account after the monthly postings on July 31? (b) What is the balance of the Accounts Payable control account after the monthly post- ings on July 31? (c) To what account(s) is the column total of $252,000 in the sales journal posted? (d) To what account(s) is the accounts receivable column total of $231,000 in the cash receipts journal posted? E7-2B Presented below is the subsidiary accounts receivable account of Morgan Hoover. Ref. Debit Credit Balance Date 2017 Sept. 4 S29 16,000 16,000 14,000 23 CR9 2,000 14,000 Instructions - Write a memo to Danny Marshall, chief financial officer, that explains each transaction. F E7-3B On September 1 the balance of the Accounts Receivable control account in the general ledger of Bridges Company was $12,960. The customers' subsidiary ledger contained account balances as follows: Gedeno $1,940, Verduzco $3.140, Fernetti $2.560. Fanestil 55,320. At the end of September the various journals contained the following information si 6 LENA | 6o6te pomoh oh m.xythos.prod/591f52710d708/646058?response-content-disposition=inline%3B%20filenan 6 overleaf Welcome, Kimbra -... Nearpod Technolo... Kimbra BenzelActivi... Deter balan of spe (LO 2 CHAPTER 7 EXERCISES: SET B E7-1B Cope 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 Receiv. able control account in the general ledger had a debit balance of $200,000; the Accounts Payable control account had a credit balance of $120,000. 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 $252,000 Purchases journal Total purchases $151,000 Cash receipts journal Accounts receivable column total $211,000 Cash payments journal Accounts payable column total $152,000 Instructions (a) What is the balance of the Accounts Receivable control account after the monthly postings on July 31? (b) What is the balance of the Accounts Payable control account after the monthly post ings on July 31? (c) To what account(s) is the column total of $252,000 in the sales journal posted? (d) To what account(s) is the accounts receivable column total of $231,000 in the cash receipts journal posted? E7-2B Presented below is the subsidiary accounts receivable account of Morgan Hoover. Expla subsi (LO 2 Date Ref. Debit Credit Balance 2017 Sept. 4 S29 16,000 16,000 G4 2,000 14,000 23 CR9 14,000 Instructions CHAPTER 7 EXERCISES: SET B E7-1B Cope 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 Receiv. able control account in the general ledger had a debit balance of $200,000; the Accounts Payable control account had a credit balance of $120,000. 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 $252,000 Purchases journal Total purchases $151,000 Cash receipts journal Accounts receivable column total $211,000 Accounts payable column total $152,000 Instructions (a) What is the balance of the Accounts Receivable control account after the monthly postings on July 31? (b) What is the balance of the Accounts Payable control account after the monthly post- ings on July 31? (c) To what account(s) is the column total of $252,000 in the sales journal posted? (d) To what account(s) is the accounts receivable column total of $231,000 in the cash receipts journal posted? E7-2B Presented below is the subsidiary accounts receivable account of Morgan Hoover. Ref. Debit Credit Balance Date 2017 Sept. 4 S29 16,000 16,000 14,000 23 CR9 2,000 14,000 Instructions - Write a memo to Danny Marshall, chief financial officer, that explains each transaction. F E7-3B On September 1 the balance of the Accounts Receivable control account in the general ledger of Bridges Company was $12,960. The customers' subsidiary ledger contained account balances as follows: Gedeno $1,940, Verduzco $3.140, Fernetti $2.560. Fanestil 55,320. At the end of September the various journals contained the following information
