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all of E7.4 E7.4 (LO 2) Kieschnick Company has a balance in its Accounts Receivable control account of $10,000 on January 1, 2020. The subsidiary
all of E7.4
E7.4 (LO 2) Kieschnick Company has a balance in its Accounts Receivable control account of $10,000 on January 1, 2020. The subsidiary ledger contains three accounts: Bixler Company, balance $4,000; Cuddyer Company, balance $2,500; and Freeze Company. During January the following receivable-related transactions occurred. Determine control and subsidiary ledger balances for accounts receivable. Collections Returns Credit Sales $9,000 $8,000 $-0- 7,000 2,500 3,000 Bixler Company Cuddyer Company Freeze Company 8,500 9,000 -0- Instructions a. What is the January 1 balance in the Freeze Company subsidiary account? b. What is the January 31 balance in the control account? c. Compute the balances in the subsidiary accounts at the end of the month. d. Which January transaction would not be recorded in a special journal? E7.5 (LO 2) Pennington Company has a balance in its Accounts Payable control account of $9,250 on January 1, 2020. The subsidiary ledger Step by Step Solution
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