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GL0601 (Algo) - Based on Problem 6-2A LO P2 Allen Company set up a petty cash fund for payments of small amounts. The following
GL0601 (Algo) - Based on Problem 6-2A LO P2 Allen Company set up a petty cash fund for payments of small amounts. The following transactions involving the petty cash fund occurred in May. May 1 Prepared a company check for $350 to establish the petty cash fund. May 15 Prepared a company check to replenish the fund for the following expenditures made since May 1. May 15 a. Paid $118 for janitorial services. May 15 b. Paid $88 for miscellaneous expenses. May 15 c. Paid postage expenses of $59. May 15 d. Paid $29 to Facebook for advertising expense. May 15 e. Counted $64 remaining in the petty cash box. May 16 Prepared a company check for $150 to increase the fund to $500. May 31 The petty cashier reports that $200 cash remains in the fund. A company check is drawn to replenish the fund for the following expenditures made since May 15. May 31 f. Paid postage expenses of $174. May 31 g. Reimbursed the office manager for business mileage, $87. May 31 h. Paid $29 to deliver merchandise to a customer, terms FOB destination. May 31 The company decides that the May 16 increase in the fund was too large. It reduces the fund by $120, leaving a total of $380. Requirement General Journal General Ledger Impact on Trial Balance Income Consual Jannal tah Des the man intional antrian
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