Exercise 7-5 (Part level Submission) Pennington Company has a balance in its Accounts Payable control account of $8,688on January 1, 2014. The subsidiary ledger contains three accounts: Hale Company, balance $2,648; Janish Company, balance $1,555; and Valdez Company. During January, the following payable-related transactions occurred.

Purchases	Payments	Returns
Hale Company	$6,515	$5,715	$ -0-
Janish Company	5,566	1,555	3,383
Valdez Company	6,099	6,097	-0-

(a)

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

Balance in the Valdez Company subsidiary account $