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Eagleton Gaming Supplies started a petty cash fund on April 15 , with a balance of $250. By April 27 , it had $20 in
Eagleton Gaming Supplies started a petty cash fund on April 15 , with a balance of $250. By April 27 , it had $20 in cash and $230 in petty cash tickets. This included $180 of courier receipts, which they report as delivery expenses, and $50 of RONA receipts, which will be recorded as maintenance expenses. They recognized that the petty cash account was too small, so on May 1 , it was increased to have a $350 balance. Record the petty cash transactions. Explanations are not required. Record the petty cash transaction for May 1. Explanations are not required. (Record debits first, then credits. Explanations are not required.)
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