Reference no: EM132465571

balance in its Accounts Payable control account of $10,500 on January 1, 2020. The subsidiary ledger contains three accounts: Smith Company, balance $3,000; White Company, balance $2,500 and Marino Company. During January, the following payable-related transactions occurred.

                        Purchases            Payments            Returns

Smith Company     $8,500                  $6,000                $ -0-

White Company       5,2502,              5001,                   500

Marino Company        6,1006,            250-                         0

Question 1) What is the January 1 balance in the Marino Company subsidiary account

Question 2) What is the January 31 balance in the control account?

Question 3) Compute the balances in the subsidiary accounts at the end of the month.

Smith
White
Marino

Question 4) Which January transaction would not be recorded in a special journal?