Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Blossom Company maintains a petty cash fund for small expenditures. These transactions occurred during the month of August. Aug. 1 Established the petty cash fund

image text in transcribed
image text in transcribed
image text in transcribed
Blossom Company 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 $224,00. 15 Replenished the petty cash fund by writing a check for $187.00. On this date, the fund consisted of $37.00 in cash and these petty cash receipts: freight-out $62.40, entertainment expense $24.00, postage expense $21.70, and miscellaneous expense $75.80 16 Increased the amount of the petty cash fund to $424.00 by writing a check for $200.00. 31 Replenished the petty cash fund by writing a check for $295.00. On this date, the fund consisted of $129.00 in cash and these petty cash receipts: postage expense $134,00, entertainment expense $113.60, and freight-out $46,40. (a) Journalize the petty cash transactions. (Round answers to 2 decimal places, es.52.75. Credit account titles are automatically indented Journalize the petty cash transactions. (Round answers to 2 decimal places, es. 5275 . Credit occount titles are automotically indented When amount is entered, Do not indent manuolly. Record Joumal entries in the order presented in the problem. List oll debit entries bufire credlt entries.) Question 5 of 27 13i Attempts: 0 of 3 used

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

World Class Internal Audit Tales From My Journey

Authors: Norman Marks

1st Edition

1500791962, 978-1500791964

More Books

Students also viewed these Accounting questions

Question

5. Identify the logical fallacies, deceptive forms of reasoning

Answered: 1 week ago

Question

6. Choose an appropriate organizational strategy for your speech

Answered: 1 week ago