Question
Pennington Company has a balance in its Accounts Payable control account of $8,721on January 1, 2014. The subsidiary ledger contains three accounts: Hale Company, balance
Pennington Company has a balance in its Accounts Payable control account of $8,721on January 1, 2014. The subsidiary ledger contains three accounts: Hale Company, balance $2,572; Janish Company, balance $1,685; and Valdez Company. During January, the following payable-related transactions occurred.
What is the January 31 balance in the control account?
| Purchases | Payments | Returns | |
| Hale Company | $6,968 | $5,717 | $ -0- |
| Janish Company | 5,075 | 1,685 | 3,133 |
| Valdez Company | 6,677 | 6,319 | -0 |
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Financial and Managerial Accounting
Authors: Belverd E. Needles, Marian Powers, Susan V. Crosson
9th edition
1439037809, 978-1439037805
