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Sheridan Company uses both special journals and a general journal as described in this chapter....

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Accounting

Sheridan 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 300,300; the accounts payable control account had a credit balance of 83,600.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 $169,300Purchase journal Total Purchases $57,000Cash receipts journal Accounts receivable column total $141,600Cash payments journal Accounts payable column total$46,7001. What is the balance of the Accounts Receivable control account after the monthly postings on July 31?2. What is the balance of the Accounts Payable control account after the monthly postings on July 31?3. To what account(s) is the column total of $169,300 in the sales journal posted?4. To what account(s) is the accounts receivable column total of $141,600 in the cash receipts journal posted.

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