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What is the balance of the accounts receivable control

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Question - Cullumber 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 $305,900; the Accounts Payable control account had a credit balance of $85,600.

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

$167,700

Purchases journal

Total purchases

$56,000

Cash receipts journal

Accounts receivable column total

$134,300

Cash payments journal

Accounts payable column total

$48,300

Required - What is the balance of the Accounts Receivable control account after the monthly postings on July 31?

Reference no: EM133104870

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