Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

EcoMart establishes a $1,800 pery cash fund on May 2. On May 30, the fund shows $734 inch long which to the thing expenditures transportation-in.

image text in transcribed
EcoMart establishes a $1,800 pery cash fund on May 2. On May 30, the fund shows $734 inch long which to the thing expenditures transportation-in. $150, postage expenses. 5534, and miscellaneous expenses. 5390. The Day Cou account for a 58 overage in the fund. The company uses the perpetual System in accounting for merchandisery Prepare the (1) May 2 entry to establish the fund. (2) May 30 entry to remoutse the fund Hint Crear Cath Over Short credit Cash for $1,066) and (3) June 1 entry to increase the fund to $2.500 View transaction list Journal entry worksheet 1 2 3 Record the May 2 entry to establish the fund. Note: Enter debits before credits Dato General Journal May 02 Debit Credit Record entry Clear entry Vuw general journal

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

College Accounting Chapters 1-29

Authors: John J. Wild, Vernon J. Richardson, Ken W. Shaw

2nd Edition

0077398173, 978-0077398170

More Books

Students also viewed these Accounting questions

Question

Identify ways to increase your selfesteem.

Answered: 1 week ago