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Exercise 7-08 Sheffield Corp. uses an imprest petty cash system. The fund was established on March 1 with a balance of $100. During March, the
Exercise 7-08 Sheffield Corp. uses an imprest petty cash system. The fund was established on March 1 with a balance of $100. During March, the following petty cash receipts were found in the petty cash box. Date Receipt No. Amount $38 12 For Stamp Inventory Freight-Out Miscellaneous Expense Travel Expense Miscellaneous Expense 10 25 The fund was replenished on March 15 when the fund contained $4 in cash. On March 20, the amount in the fund was increased to $205. Journalize the entries in March that pertain to the operation of the petty cash fund. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.)
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