(Solved): E7-1B Cope Company uses both special journals and a general journal as described in this chapter. O ...

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 Receivable 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. 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 Pavable control account after the monthly postings on July 31 ? (c) To what account $(\mathrm{s})$ 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 Mongin Hoover