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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?
(c) Compute the balances in the subsidiary accounts at the end of the month.
(d) Which January transaction would not be recorded in a special journal?
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