Exercise 7-05 a-d (Part Level Submission)

Blossom Company has a balance in its Accounts Payable control account of $8,000on January 1, 2020. The subsidiary ledger contains three accounts: Hale Company, balance $2,500; Janish Company, balance $1,500; and Valdez Company. During January, the following payable-related transactions occurred.

Purchases

Payments

Returns

Hale Company: $6,250 $5,500 $0

Janish Company: $4,750 $1,500 $2,500

Valdez Company: $5,875 $6,000 $0

What is the January 1 balance in the Valdez Company subsidiary account?

Balance in the Valdez Company subsidiary account $....