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Exerclse 8-5 Petty cash fund wlth a shortage LO P2 Waupaca Company establishes a $410 petty cash fund on September 9. On September 30, the
Exerclse 8-5 Petty cash fund wlth a shortage LO P2 Waupaca Company establishes a $410 petty cash fund on September 9. On September 30, the fund shows $170 In cash along with recelpts for the following expenditures: transportation costs of merchandise purchased, $49: postage expenses, $7; and miscellaneous expenses, $114. The petty cashler could not account for a $6 shortage In the fund. The company uses the perpetual system in accounting for merchandise Inventory Prepare (1) the September 9 entry to establish the fund. 2) the September 30 entry to relmburse the fund, and (3) an October 1 entry to Increase the fund to $480. View transaction llat Journal entry worksheet Note: Enter debits before credits Debit Credit Date General Journal Record entry Clear entry View general Journal
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