On September 1, the balance of the Accounts Receivable control account in the general ledger of Wildhorse Company was $10.670 The customers' subsidiary ledger contained account balances as follows: Hurley $1,230, Andino $2,490, Fowler $2.000, and Sogard $4,950. At the end of September, the various journals contained the following information, Sales journal: Sales to Sogard $770, to Hurley $1,220, to Giambi $1,330, and to Fowler $1,070. Cash receipts Cash received from Fowler $1,400, from Sogard $2.210, from Glambi $310, from Andino $1,790, and journal: from Hurley $1,290 General journal: An allowance is granted to Sogard $280. (a) Set up control and subsidiary accounts and enter the beginning balances. Accounts Receivable Date Explanation Ref. Sept. 1 Balance Debit Credit Balance Accounts Receivable Subsidiary Ledger Debit Credit Balance Debit Credit Balance Fowler Date Explanation Ref. Sept. 1 Balance Sogard Date Explanation Ref. Sept. 1 Balance V Giambi Date Explanation Ref. Sept. 1 Balance V Andino Date Explanation Ref. Sept. 1 Balance Debit Credit Balance Debit Credit Balance Debit Credit Balance Balance Credit Debit Sogard Date Explanation Ref. Sept. 1 Balance Giambi Date Explanation Ref. Sept. 1 Balance Andino Date Explanation Ref. Sept. 1 Balance Hurley Date Explanation Ref. Sept. 1 Balance Balance Credit Debit Balance Credit Debit Post the various journals. Post the items as individual items or as totals, whichever would be the appropriate procedure. Accounts Receivable Date Explanation Ref. Debit Credit Balance Sept. 1 Balance 10,670 Credit S CR G Accounts Receivable Subsidiary Ledger Debit Credit Balance Fowler Date Explanation Ref. Sept. 1 Balance 5 2.000 CR Debit Credit Balance 4,950 Sogard Date Explanation Ref. Sept. 1 Balance S Accounts Receivable Subsidiary Ledger Debit Credit Balance Fowler Date Explanation Ref. Sept. 1 Balance S 2.000 Debit Credit Balance CR Sogard Date Explanation Ref. Sept. 1 Balance S 4.950 CR G Credit Balance Debit 0 Giambi Date Sept. 1 Explanation Ref. S CR Debit Credit Balance Giambi Date Explanation Ref. Sept. 1 s 0 Debit Credit Balance 2.490 CR Andino Date Explanation Ref. Sept. 1 Balance CR Hurley Date Explanation Ref. Sept. 1 Balance S Balance Credit Debit 1.230 CR Prepare a schedule of accounts receivable and prove the agreement of the controlling account with the subsidiary ledger at September 30, 2020 WILDHORSE COMPANY Schedule of Accounts Receivable As of September 30, 2020 . $ Total $ Accounts Receivable Ivanhoe Company has a balance in its Accounts Payable control account of $8.450 on January 1, 2020. The subsidiary ledger contains three accounts: Hale Company, balance $2,940: Janish Company, balance $1,630; and Valdez Company. During January the following payable-related transactions occurred. Hale Company Janish Company Valdez Company Purchases $6.920 5.300 6,635 Payments $5.900 1.630 6,220 Returns $0 2,750 O (a) What is the January 1 balance in the Valdez Company subsidiary account? Balance in the Valdez Company subsidiary accounts
