Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Coronado 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 transcribedimage text in transcribedimage text in transcribed

Coronado 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 $215. 15 Replenished the petty cash fund by writing a check for $210.20. On this date, the fund consisted of $4.80 in cash and these petty cash receipts: freight-out $96, entertainment expense $47.20, postage expense $43.90, and miscellaneous expense $21.20. 16 Increased the amount of the petty cash fund to $310 by writing a check for $95.00. 31 Replenished the petty cash fund by writing a check for $294.40. On this date, the fund consisted of $15.60 in cash and these petty cash receipts: postage expense $140.00, entertainment expense $92.70, and freight-out $59.90. Journalize the petty cash transactions. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually. Round answers to 2 decimal places, e.g. 52.75.) Post to the Petty Cash account

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

Marketing Audit And Performance A Case Of Parastatals Marketin Audit And Performance

Authors: Bonventure Onyango Odote, Wyckliffe Otieno Robby

1st Edition

365946595X, 978-3659465956

More Books

Students also viewed these Accounting questions

Question

If ( A^2 - A + I = 0 ), then inverse of matrix ( A ) is?

Answered: 1 week ago

Question

What is computer neworking ?

Answered: 1 week ago