Question - Compute the balances in the subsidiary accounts at the end of the month Pennington Company has a balance in its Accounts Payable control account of $8,632 on January 1, 2014. The subsidiary ledger contains three accounts: Hale Company, balance $2,691; Janish Company, balance $1,931; and Valdez Company. During January, the following payable-related transactions occurred.
|
Purchases
|
Payments
|
Returns
|
|
Hale Company
|
$6,562
|
$5,537
|
$ -0-
|
|
Janish Company
|
5,350
|
1,931
|
2,887
|
|
Valdez Company
|
6,134
|
6,208
|
-0-
|
Compute the balances in the subsidiary accounts at the end of the month.