Pennington Company has a balance in its Accounts Payable control account of($8, 420 on January 1, 2017. The subsidiary ledger contains three accounts: Hale Company, balance $2, 090; Janish Company, balance $1, 020; and Valdez Company. During January, the following payable-related transactions occurred. What is the January 1 balance the Valdez Company subsidiary account? Balance in the Valdez Company subsidiary account $ ________________