1)

Problem 7-03A a-b (Part Level Submission)

Pina Colada Corp. maintains a petty cash fund for small expenditures. These transactions occurred during the month of August.

Aug.	1		Established the petty cash fund by writing a check payable to the petty cash custodian for $225.00.
	15		Replenished the petty cash fund by writing a check for $220.80. On this date, the fund consisted of $4 in cash and these petty cash receipts: freight-out $73.40, entertainment expense $35.60, postage expense $33.20, and miscellaneous expense $77.10.
	16		Increased the amount of the petty cash fund to $430.00 by writing a check for $205.00.
	31		Replenished the petty cash fund by writing a check for $312.00. On this date, the fund consisted of $118 in cash and these petty cash receipts: postage expense $139.00, entertainment expense $92.00, and freight-out $80.00.

(a)

	Your answer is partially correct. Try again.

Journalize the petty cash transactions. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. Round answers to 2 decimal places, e.g. 52.75.)

2)

Exercise 7-11 a-b (Part Level Submission) (Video)

The following information pertains to Sunland Company.

1.		Cash balance per bank, July 31, $7,863.
2.		July bank service charge not recorded by the depositor $37.
3.		Cash balance per books, July 31, $7,884.
4.		Deposits in transit, July 31, $1,800.
5.		The bank collected $1,216 in July for Sunland through electronic funds transfer. The collection has not been recorded by Sunland.
6.		Outstanding checks, July 31, $600.

(a) Prepare a bank reconciliation at July 31. (List items that increase cash balance first. Reconcile cash balance per bank first.) Sunland Company Bank Reconciliation July 31For the Year Ended July 31For the Month Ended July 31