Kieschnick company has a balance in its Account Receivable control account of $10,000 on January 1,2017. The subsidiary ledger contains there accounts: Bixler company, balance $4,000; Cuddyer company, balance $2,500; and Freeze Company. During January, the following receivable related transactions occurred.
| Credit Sales | Collections | Returns | |
| Bixler Company | $9,000 | $8,000 | $-0- |
| Cuddyer Company | 7,000 | 2,500 | $3,000 |
| Freeze Company | 8,500 | 9,000 | $-0- |
Instructions
- What is the January 1 balance in the Freeze company subsidiary account?
- What is the January 31 balance in the control account?
- Compute the balances in the subsidiary accounts at the end of the month.
- Which January transaction would not be recorded in a special Journal?
Solution
