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ABC Company had the following transactions for the month of June: June 1- Established the petty cash fund with an imprest balance of P30,000 by
ABC Company had the following transactions for the month of June: June 1- Established the petty cash fund with an imprest balance of P30,000 by encashing a check June 5 - Paid travel expenses of employees for P7,330 June 11 - Paid freight for documents received amounting to P1,680 June 13 Paid miscellaneous expenses amounting to P14,770 June 20 Paid delivery expenses for outbound documents to government agencies amounting to P950 June 24 Paid P1,500 for employee's birthday cake June 30 - Made a cash count which totaled P3,500 and replenished the fund by encashing a check What is the Cash Overage or Shortage on June 30? (positive if overage and negative if shortage)
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