(Answered) Question - pennington company has a balance in its accounts

Accounting

Question - Pennington Company has a balance in its Accounts Payable control account of $9,250 on January 1, 2014. The subsidiary ledger contains three accounts: Hale Company, balance $3,000; Janish Company, balance $1,875; and Valdez Company. During January, the following payable-related transactions occurred.

	Purchases	Payments	Returns
Hale Company	$6,750	$6,000	$ -0-
Janish Company	5,250	1,875	2,250
Valdez Company	6,375	6,750	-0-

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

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