Jackie's Dance Studio created a $220 imprest petty cash fund. During the month, the fund custodian authorized

Question:

Jackie's Dance Studio created a $220 imprest petty cash fund. During the month, the fund custodian authorized and signed petty cash tickets as follows:
Petty Cash Ticket No. Account Debited Amount Item Delivery of programs to customers Delivery Expense Mail package Newsle

Requirements
1. Make the general journal entry to create the petty cash fund. Include an explanation.
2. Make the general journal entry to record the petty cash fund replenishment. Cash in the fund totals $40. Include an explanation.
3. Assume that Jackie's Dance Studio decides to decrease the petty cash fund to $120. Make the general journal entry to record this decrease.

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Horngrens Financial And Managerial Accounting The Financial Chapters

ISBN: 9780134486840

6th Edition

Authors: Tracie L. Miller Nobles, Brenda L. Mattison, Ella Mae Matsumura

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