Solution-Compute the balances in the subsidiary accounts

Compute the balances in the subsidiary accounts

Reference no: EM13552461

Malcolnn Reynolds Company has a balance in its Accounts Receivable control account of $11,000 on January 1, 2012. The subsidiary ledger contains three accounts: Nathan Company, balance $4,000; Fillion Company, balance $2,500; and Lassak Company. During January, the following receivable-related transactions occurred.

	Credit Sales	Collections	Returns
Nathan Company	$9,000	$8,000	$ -0-
Fillion Company	7,000	2,500	3,000
Lassak Company	8,500	9,000	-0-

Instructions

(a) What is the January 1 balance in the Lassak Company subsidiary account?

(b) What is the January 31 balance in the control account?

(d) Which January transaction would not be recorded in a special journal?

Reference no: EM13552461

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Compute the balances in the subsidiary accounts

Reference no: EM13552461

Reference no: EM13552461

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