Question
Account Name Debit Amount Credit Amount Create a Journal Entry Ferguson Co. established a $200 petty cash fund. At the end of the first month
| Account Name | Debit Amount | Credit Amount |
|---|---|---|
Create a Journal Entry
Ferguson Co. established a $200 petty cash fund. At the end of the first month the accumulated receipts represent $48 for shipping charges (transportation-in) on merchandise purchased for resale, terms FOB shipping point; $27 for printing; and $13 for miscellaneous expenses. The fund has a remaining balance of $102 in cash. Prepare the journal entry to record the reimbursement of this petty cash account and enter it in the space below.
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Introduction To Management Accounting
Authors: Charles T. Horngren, Gary L. Sundem, William O. Stratton, Dave Burgstahler, Jeff O. Schatzberg
16th Global Edition
0273790013, 978-0273790013
