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Compute the balances in the subsidiary accounts at the end of the monthPennington Company has a balance in its Accounts Payable control account of $8,632
Compute the balances in the subsidiary accounts at the end of the monthPennington 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.
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