CASH SHORT & OVER Refer to the chart of accounts shown below for the exact account titles to be used in this assignment. Record each of the following transactions in the two-column journal located on the back. Do not skip lines between transactions. ASSETS 111 Cash 112 Petty Cash 115 Change Fund 120 Accounts Receivable 125 Notes Receivable 151 Prepaid Insurance 161 Computer Equipment 171 Printer LIABILITIES 211 Accounts Payable OWNER'S EQUITY 311 L. Glathar, Capital 312 L. Glathar, Withdrawals Transactions May 1 May 2 May 3 May 4 May 5 May 24 May 31 CHART OF ACCOUNTS Laura's Closet REVENUE 411 415 511 512 513 514 516 520 521 522 523 Custom Shopping Sales Merchandise Sales Rent Expense Telephone Expense Advertising Expense Computer Repair Expense Cash Short & Over Postage Expense Bank Charge Expense Utilities Expense Delivery Expense Establish Petty Cash for $300, Check #2. Establish the change fund for $100, Check #3. At the end of the day, the cash register indicated that total cash sales were $894.50. Once counted, the cash in the register was $997.52. The cash in the drawer includes the change fund. At the end of the day, the cash register indicated that total cash sales were $389.42. Once counted, the cash in the register was $489.42. The cash in the drawer includes the change fund. At the end of the day, the cash register indicated that total cash sales were $765.35. Once counted, the cash in the register was $863.35. The cash in the drawer includes the change fund. Laura's Closet received a check for sales on account from Smith Company. The check (#734) was for $3,444.34. Smith Company's account had an outstanding balance of $3,444.44. Use Cash Short & Over to balance the payment. Create the entry to replenish petty cash using the following information from the petty cash payments record and Check #10: Delivery Expense, 22; Telephone Expense, 7.25; Postage Expense, $25. Date GENERAL JOURNAL Account Titles and Description PR Dr. PAGE 4 Cr. CASH SHORT & OVER Refer to the chart of accounts shown below for the exact account titles to be used in this assignment. Record each of the following transactions in the two-column journal located on the back. Do not skip lines between transactions. ASSETS 111 Cash 112 Petty Cash 115 Change Fund 120 Accounts Receivable 125 Notes Receivable 151 Prepaid Insurance 161 Computer Equipment 171 Printer LIABILITIES 211 Accounts Payable OWNER'S EQUITY 311 L. Glathar, Capital 312 L. Glathar, Withdrawals Transactions May 1 May 2 May 3 May 4 May 5 May 24 May 31 CHART OF ACCOUNTS Laura's Closet REVENUE 411 415 511 512 513 514 516 520 521 522 523 Custom Shopping Sales Merchandise Sales Rent Expense Telephone Expense Advertising Expense Computer Repair Expense Cash Short & Over Postage Expense Bank Charge Expense Utilities Expense Delivery Expense Establish Petty Cash for $300, Check #2. Establish the change fund for $100, Check #3. At the end of the day, the cash register indicated that total cash sales were $894.50. Once counted, the cash in the register was $997.52. The cash in the drawer includes the change fund. At the end of the day, the cash register indicated that total cash sales were $389.42. Once counted, the cash in the register was $489.42. The cash in the drawer includes the change fund. At the end of the day, the cash register indicated that total cash sales were $765.35. Once counted, the cash in the register was $863.35. The cash in the drawer includes the change fund. Laura's Closet received a check for sales on account from Smith Company. The check (#734) was for $3,444.34. Smith Company's account had an outstanding balance of $3,444.44. Use Cash Short & Over to balance the payment. Create the entry to replenish petty cash using the following information from the petty cash payments record and Check #10: Delivery Expense, 22; Telephone Expense, 7.25; Postage Expense, $25. Date GENERAL JOURNAL Account Titles and Description PR Dr. PAGE 4 Cr
