- /25 111 Question 8 of 11 Current Attempt in Progress Pharoah Retail Shop allows customers to use debit and bank credit cards as well as cash for purchases of merchandise. The company does not accept personal cheques. Pharoah's bank charges $1.15 for every debit card transaction and 5% for bank credit card transactions. On July 1, the company established a petty cash fund. Before it created the petty cash fund, cash was taken from the cash register whenever someone needed cash to pay for a small expense. The following transactions happened in July: July 1 Established the petty cash fund by cashing a cheque for $340. 8 Total sales for the week were $33.500. Customers paid for these purchases as follows: $12,500 in cash, $9.000 on debit cards (120 transactions), and the balance using bank credit cards. 8 Replenished the petty cash fund. On this date, the fund consisted of $99 in cash and the following petty cash receipts: Exam - / 25 TIL Question 8 of 11 Freight out $77 Supplies 39 Advertising in local paper, 52 Personal withdrawal by owner, R. Pharoah 68 15 Total sales for the week were $29.910. Customers paid for these purchases as follows: $11,910 in cash, $10,000 on debit cards (140 transactions), and the balance using bank credit cards. Replenished the petty cash fund and decreased the balance to $295. On this date, the fund consisted of $55 in cash and the following petty cash receipts: 25 Postage $80 Advertising in local newspaper 93 Supplies 98 Question 8 of 11 - / 25 III (a) Record the transactions. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter O for the amounts. Round answers to 0 decimal places, eg.5,275.) Date Account Titles and Explanation Debit Credit July 1 July 8 >