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Ch 06 Qulz 6 Saved Help Waupaca Company establishes a $310 petty cash fund on September 9.On September 30, the fund shows $34 in cash
Ch 06 Qulz 6 Saved Help Waupaca Company establishes a $310 petty cash fund on September 9.On September 30, the fund shows $34 in cash along with receipts for the following expenditures: transportation costs of merchandise purchased, $58; postage expenses, $51; and miscellaneous expenses, $153. The petty cashier could not account for a $14 shortage in the fund. The company uses the perpetual system in accounting for merchandise inventory Prepare () the September 9 entry to establish the fund, (2) the September 30 entry to reimburse the fund, and (3) an October 1 entry to increase the fund to $375 20 points View transaction list Journal entry worksheet Prepare the journal entry to establish the Petty Cash fund. Note: Enter debits before credits General Journal Sept 9 Record entry Clear entry View general journal Pre 1o5 Next >
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