Selected Account Balances for Billings Company at January 1, 2020

Selected account balances for Billings Company at January 1, 2020, are presented below. $\begin{array}{lr}\text { Accounts Payable } & \$ 18,000 \\\text { Accounts Receivable } & 22,000 \\\text { Cash } & 10,000 \\\text { Inventory } & 13,500\end{array}$ Billings' sales journal for January shows a total of $143,000 in the selling price column, and its one-column purchases journal for January shows a total of $90,000.
The column totals in Billings' cash receipts journal are: Cash Dr. $111,000; Sales Discounts Dr. $1,100; Accounts Receivable Cr. $90,000; Sales Revenue Cr. $11,000; and Other Accounts Cr. $11,100.
The column totals in Billings' cash payments journal for January are: Cash Cr. $80,000; Inventory Cr. $1,000; Accounts Payable Dr. $73,000; and Other Accounts Dr. $8,000. Hernandez's total cost of goods sold for January is $73,000.
Accounts Payable, Accounts Receivable, Cash, Inventory, and Sales Revenue are not included in the "Other Accounts" column in either the cash receipts or cash payments journal, and are not included in any general journal entries.
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