Create a journal entry Chart of Accounts

Cash

Petty Cash

Supplies

Accounts Receivable $-$ A$.$ Michaels

HST Payable

HST Recoverable

Sales

Interest Earned

Sales Discount

Bank Service Charges

Delivery Expense

Postage Expense

Miscellaneous Expense

Transactions

Nov $7$

Cash sales slips totalled $$3295$ plus $$428\mathrm{.}35$ HST$.$ Cash was deposited.

Issued Sales Invoice $87-$ B to A$.$ Michaels, terms $\frac{3}{15},\frac{n}{30},$ amount $$2000,$ plus HST

$8$ Received bank credit memo for $$215,$ interest earned by the company

$9$ Received bank debit memo for $$25,$ plus $$3\mathrm{.}25HST,$ for the annual charge for a safety deposit box. Total $$28\mathrm{.}25$

$15$ Received cheque from A$.$ Michaels, $$2056\mathrm{.}40$ for Invoice $87-,$ less $$63\mathrm{.}60$ discount. Cheque was deposited.

Task $1\mathrm{.}1$: Read through the following word problem and complete the TWO journal entries that are relevant to the accounts and information given.

Renfrew Services established a petty cash fund by issuing a $$150$ cheque on Sept. $1.$

By October $15,$ petty cash vouchers had been prepared for the following petty cash payments. A replenishing cheque was issued.

Office Supplies $-$ $$45\mathrm{.}00$

Postage Expense $-$$$50\mathrm{.}00$

Miscellaneous Expense $-$ $$22\mathrm{.}50$

Delivery Expense $-$ $$24\mathrm{.}75$

Record the initial journal entry that established the fund, and then record the journal entry for the petty cash summary $($i$.$e$.$ the step before it is replinshec