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Exercise 7-8 Cheyenne Corp. uses an imprest petty cash system. The fund was established on March 1 with a balance of $105. During March, the
Exercise 7-8 Cheyenne Corp. uses an imprest petty cash system. The fund was established on March 1 with a balance of $105. During March, the following petty cash receipts were found in the petty cash box Date Receipt No. For Amount 3/5 1 Stamp Inventory $32 Freight-Out 13 Miscellaneous Expense 14 11 Travel Expense 4 31 14 5 Miscellaneous Expense 7 The fund was replenished on March 15 when the fund contained $5 in cash. On March 20, the amount in the fund was increased to $200. 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.) Date Account Titles and Explanation Debit Credit Mar. 1 Petty Cash 100 Cash 100 a. 15 Freight-Out 13 Travel Expense 31 Miscellaneous Expense Account Titles and Explanation Date Debit Credit Mar. 1 Petty Cash 100 Cash 100 Mar. 15 Freight-Out Travel Expense 31 Miscellaneous Expense Click if you would like to Show Work for this question: Open Show Work SAVE FOR LATER Question Attempts: 0 of 5 used 13
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