tof Sarah Co sells goods and performs services for various customers on credit. On Aug 1, 2021 "Accounts Receivable" had a debit balance of $400. During the month of August, the following transactions occurred. Aug 2. Performed services to customer ABC and billed the customer $350. Aug 5 Sold merchandise on account to Box Co. for $600, terms 2/10,n/30. Aug 7. Box Co. Returned merchandise worth $250. Aug 25. Sarah Co. Collected the amount due from Box Co. Required: () Prepare the journal entries for the above transactions (Ignore COGS) (16 pts) (b) What is the balance of Accounts Receivable on August 31 (4) SOLUTION DATE ACCOUNT TITLES DEBIT Ae o W 116 6 UUEE VANUNE TELES UEDE UNEI Aug 2 : DATE ACCOUNT TITLES DEBIT CREI Aug 5 S DATE ACCOUNT TITLES DEBIT CREI Aug a S DATE ACCOUNT TITLES DEBIT CREI Aug 25 . S o w 116F Partly s ho 8 (b) The balance of Accounts Receivable on August 31 is: $ page Next page Askesmises session Achynp(82)-Mrs. Dina Fahl Wednesday Aug 11-4:30 pm N AUM American University of the Midd OBRA hp de