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Dhenu Co. started a petty cash fund by issuing a cheque for $245 and Sudama was appointed as the petty cash custodian. Sudama recorded the

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Dhenu Co. started a petty cash fund by issuing a cheque for $245 and Sudama was appointed as the petty cash custodian. Sudama recorded the following petty cash payments during the month: There was $13 of currency in the petty cash box at the time it was replenished. Prepare all general journal entries necessary to (1) establish the fund, (2) recognize the expenses and replenish the fund. ( 3 marks available) The Good Guys engaged in the following transactions during April of the current year (all expenses, purchases and sales include GST at a rate of 10%, values to the nearest integer): April 18: Sold inventory on credit terms of 2/10n/30,$3960 (cost, net of GST, \$2256). April 22: Received returned goods from the customer of the 18 June sale, \$1584 (cost, net of GST, \$816). April 28: Received cash in full settlement of the account from the customer who purchased inventory on 18 April, less the return on 22 April. Journalise the transactions. Narrations are not required (9 marks available)

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