Karens Dance Studio created a $370 imprest petty cash fund. During the month, the fund custodian authorized

Question:

Karen€™s Dance Studio created a $370 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 Delivery expense $ 25 to customers Mail package P

Requirement
1. Make the general journal entries to
a. create the petty cash fund and
b. record its replenishment. Cash in the fund totals $147, so $13 is missing. Includeexplanations.

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Financial and Managerial Accounting

ISBN: 978-0132497978

3rd Edition

Authors: Horngren, Harrison, Oliver

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