On September 1, 2021, Lily Company had an initial accounts receivable control account balance of $72,000. The subsidiary ledger contains 3 accounts: Jasmine Company, balance $25,200; Sunflower Company, balance $14,400; and Orchid Company. The following were information regarding Lily Company's accounts receivable during September. Purchases Payments Returns Jasmine Company $57,500 $50,000 $2,000 Sunflower Company $82,000 $32,800 $ - Orchid Company $43,700 $52,000 $ -

On September 1, 2021, Lily Company had an initial accounts receivable control account balance of $72,000. The subsidiary ledger contains 3 accounts: Jasmine Company, balance $25,200; Sunflower Company, balance $14,400; and Orchid Company. The following were information regarding Lily Company's accounts receivable during September. Purchases Payments Returns Jasmine Company $57,500 $50,000 $2,000 Sunflower Company $82,000 $32,800 $ - Orchid Company $43,700 $52,000 $ -

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

What was the September 1 balance in the Orchid Company subsidiary account?

On September 1, 2021, Lily Company had an initial accounts receivable control
account balance of $72,000. The subsidiary ledger contains 3 accounts: Jasmine
Company, balance $25,200; Sunflower Company, balance $14,400; and Orchid
Company. The following were information regarding Lily Company's accounts
receivable during September.
Purchases
Payments
Returns
Jasmine Company
$57,500
$50,000
$2,000
Sunflower Company
$82,000
$32,800
$ -
Orchid Company
$43,700
$52,000
$ -

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