Pennington Company has a balance in its Accounts Payable control account of $9,250 on January 1,2017. The subsidiary ledger contains there 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- |
Instructions
- What is the January 1 balance in the Valdez 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
