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Exercise 6-5 Petty cash fund with a shortage LO P2 Waupaca Company establishes a $460 petty cash fund on September 9. On September 30, the
Exercise 6-5 Petty cash fund with a shortage LO P2 Waupaca Company establishes a $460 petty cash fund on September 9. On September 30, the fund shows $184 in cash along with receipts for the following expenditures: transportation-in, $46: postage expenses, $80; and miscellianeous expenses, $146. The petty cashier could not account for a $4 shortage in the fund. The company uses the perpetual system in accounting for merchandise inventory Prepare () the September 9 entry to estabilish the fund, (2) the September 30 entry to reimburse the fund, and (3) an October 1 entry to View transaction list Journal entry worksheet Prepare the journal entry to establish the Petty Cash fund Note: Enter delits before credits Sept 0 Record entry lear entry View general journal
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