Chapter $7-$ Take$-$Home Assignment

Question $1.)$ Petty Cash

Required: Prepare journal entries to record the petty cash transactions.

Remember to fill in the correct dates.

Always put Debits above and Credits below.

$\backslash$table$[[$General Journal,$],[$Date$,,$Account$/$Explanation$,$PR$,$Debit,Credit$],[,,$Petty Cash,,,$],[,,$Cash,,,$]]$

To establish the Petty Cash fund.

$\backslash$table$[[$General Journal$],[$Date$,$Account$/$Explanation$,$PR$,$Debit,Credit$],[,,,,],[,,,,],[,,,,],[,,,,],[,,,,]]$

To reimburse the Petty Cash fund.

$\backslash$table$[[$General Journal$],[\backslash$table$[[$Date$]],$Account$/$Explanation$,PR,$Debit,Credit$],[,,,,],[,,,,]]$

To increase the Petty Cash fund.

$\backslash$table$[[$General Journal$],[$Date$,$Account$/$Explanation$,PR,$Debit,Credit$],[,,,,],[,,,,],[,,,,]]$

To reimburse the Petty Cash fund.

General Journal

$\backslash$table$[[$General Journal$],[$Date$,$Account$/$Explanation$,PR,$Debit,Credit$],[,,,,],[,,,,]]$

To reduce the Petty Cash fund.