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Lily Company has a balance in its Accounts Payable control account of $15,300 on January 1, 2020. The subsidiary ledger contains three accounts: Smith Company,
Lily Company has a balance in its Accounts Payable control account of $15,300 on January 1, 2020. The subsidiary ledger contains three accounts: Smith Company, balance $4,600; White Company, balance $4,900 and Marino Company. During January, the following payable-related transactions occurred. Smith Company White Company Marino Company (a) Purchases Payments $10,100 $7,600 January 1 balance 6,850 7,700 4,100 $ 7,850 Returns $ -0- 3,100 What is the January 1 balance in the Marino Company subsidiary account? -0-
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