Question
Sunland Company has a balance in its Accounts Payable control account of $8,680 on January 1, 2020. The subsidiary ledger contains three accounts: Hale Company,
Sunland Company has a balance in its Accounts Payable control account of $8,680 on January 1, 2020. The subsidiary ledger contains three accounts: Hale Company, balance $2,990; Janish Company, balance $1,840; and Valdez Company. During January, the following payable-related transactions occurred.
| Purchases | Payments | Returns | ||||
| Hale Company | $6,620 | $6,430 | $ 0 | |||
| Janish Company | 5,700 | 1,840 | 3,040 | |||
| Valdez Company | 6,465 | 6,810 | 0 |
What is the January 1 balance in the Valdez Company subsidiary account?
| Balance in the Valdez Company subsidiary account $ |
What is the January 31 balance in the control account?
| Balance in the control account $
|
Compute the balances in the subsidiary accounts at the end of the month.
| The balances in the subsidiary accounts at the end of the month | |
| Hale | $ |
| Janish | $ |
| Valdez | $ |
Which January transaction would not be recorded in a special journal?
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Mathematical Applications for the Management Life and Social Sciences
Authors: Ronald J. Harshbarger, James J. Reynolds
11th edition
978-1305108042
