Question - Pennington Company has a balance in its Accounts Payable control account of $9,250 on January 1, 2014. The subsidiary ledger contains three accounts: Hale Company, balance $3,000; Janish Company, balance $1,875; and Valdez Company. During January, the following payable-related transactions occurred.
|
Purchases
|
Payments
|
Returns
|
|
Hale Company
|
$6,750
|
$6,000
|
$ -0-
|
|
Janish Company
|
5,250
|
1,875
|
2,250
|
|
Valdez Company
|
6,375
|
6,750
|
-0-
|
What is the January 1 balance in the Valdez Company subsidiary account?