Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Exercise 7-8 Marigold A.S.. uses an imprest petty cash system. The fund was established on March 1 with a balance of TRY 105. During March,

image text in transcribed
Exercise 7-8 Marigold A.S.. uses an imprest petty cash system. The fund was established on March 1 with a balance of TRY 105. During March, the following petty cash receipts were found in the petty cash box. Date Receipt No. For Amount 3/5 Stamp Inventory TRY 38 Freight-out 16 Miscelaneous Expense 14 11 Travel Expense 22 14 Miscellaneous Expense The fund was replenished on March 15 when the fund contained TRY 4 in cash. On March 20, the amount in the fund was increased to TRY 193. 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.) Date Account Titles and Explanation Debit Credit Petty Cash Mar. 1 Cash Mar, 15 Postage Expense Freight-Out Miscellaneous Expense Travel Expense Cash Over and Short Cash Mar. 20 Petty Cash Cash Questie

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

Step: 3

blur-text-image

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

Internal Audit Of Treasury And Cash Management

Authors: Badr Bentalha

1st Edition

B0BM3R6WG7, 979-8363213779

More Books

Students also viewed these Accounting questions

Question

How does selection differ from recruitment ?

Answered: 1 week ago