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Wildhorse Company uses both special journals and a general journal as described in this chapter. On June 30, after all monthly postings had been completed,
Wildhorse 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 $296,600; the Accounts Payable control account had a credit balance of $83,800. 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.
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