Pennington Company has a balance in its Accounts Payable control account of $8,220 on January 1, 2017. The subsidiary ledger contains three accounts: Hale Company, balance $2,900; Janish Company, balance $1,500; and Valdez Company. During January, the following payable-related transactions occurred.






Purchases



Payments



Returns



Hale Company

$6,770

$5,540

$ 0


Janish Company

5,290

1,500

2,940


Valdez Company

6,655

6,570

0

















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What is the January 1 balance in the Valdez Company subsidiary account?

[TABLE]

Balance in the Valdez Company subsidiary account $http://edugen.wileyplus.com/edugen/art2/common/pixel.gif












[TR]
[TD="bgcolor: #ffffff"]What is the January 1 balance in the Valdez Company subsidiary account?

[TABLE]
[TR="bgcolor: #deeaf9"]
[TD]Balance in the Valdez Company subsidiary account $http://edugen.wileyplus.com/edugen/art2/common/pixel.gif

We don't do homework, particularly Cut and Paste that you didn't even read. Show us your work.

The formula is simple opening balance plus purchases less payments and returns