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Crane 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. PurchasesPaymentsReturns Hale Company$6,750$6,000$ -0- Janish Company5,2501,8752,250 Valdez Company6,3756,750-0- What is the January 1 balance in the Valdez Company subsidiary account?

Respuesta :

Answer:

$4,375

Explanation:

Given that,

Crane Company balance = $9,250

Balance of Hale company = $3,000

Balance of Janish company = $1,875

January 1 balance in the Valdez Company subsidiary account:

= Crane Company Accounts Payable control account + Hale Company balance + Janish Company balance

= $9,250 + $3,000 + $1,875

= $4,375

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