Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Current Attempt in Progress Crane Buttons uses a petty cash imprest system. The fund was established on September 4 with a balance of $200. On

image text in transcribed
image text in transcribed
image text in transcribed
Current Attempt in Progress Crane Buttons uses a petty cash imprest system. The fund was established on September 4 with a balance of $200. On September 30, there were $50 cash and the following petty cash receipts in the petty cash box: Date Receipt No. For Amount Sept. 1 Freight in (assume perpetual inventory system) $29 5 9 Delivery charges on outgoing freight 14 Freight in 16 Supplies 20 Delivery charges on outgoing freight 19 29 41 6 Freight in 10 31 8 On N 3 4 Record the journal entry on September 4 to establish the petty cash fund. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts) Debit Credit Date Account Titles and Explanation Template - Stake door lewins-force-field- Template - Force.docx Record the journal entry on September 4 to establish the petty cash fund. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts) Debit Credit Date Account Titles and Explanation Sept. 4 e Textbook and Media List of Accounts fund and decrease the balance to $130. (Credit account title ore Entry for the account Record the journal entry on September 30 to replenish the fund and decrease the balance to $130 Credit account titles are automatically indented when the amount is entered. Do not Indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts.) Debit Credit Date Account Titles and Explanation Sept. 30 e Textbook and Media List of Accounts

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_2

Step: 3

blur-text-image_3

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

Comparative International Accounting Subsequent Edition

Authors: Christopher Nobes, R. H. Parker

5th Edition

0137364636, 9780137364633

More Books

Students also viewed these Accounting questions

Question

=+a) Is this an experiment or an observational study? Explain.

Answered: 1 week ago