Question
1 20 points eBook Exercise 8-8 (Static) Petty cash fund with a shortage LO P2 Waupaca Company establishes a $350 petty cash fund on
1 20 points eBook Exercise 8-8 (Static) Petty cash fund with a shortage LO P2 Waupaca Company establishes a $350 petty cash fund on September 9. On September 30, the fund shows $104 in cash along with receipts for the following expenditures: transportation-in, $40; postage expenses, $123; and miscellaneous expenses, $80. The petty cashier could not account for a $3 shortage in the fund. The company uses the perpetual system in accounting for merchandise inventory. Prepare (1) the September 9 entry to establish the fund, (2) the September 30 entry to reimburse the fund, and (3) an October 1 entry to increase the fund to $400. Ask View transaction list References Journal entry worksheet < 1 2 3 Record the reimbursement of the petty cash fund. Note: Enter debits before credits. Date September 30 General Journal Debit Credit >
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