HOMEWORK UNIT 3

i. Established a petty cash fund for $270.

Requirement 1. Record the transactions in the general journal:

w. Replenished the petty cash fund when the fund had $62 in cash and petty cash tickets for $202 for office supplies.

Established petty cash tund for 52 j. Sold appliances on account to EFG Contractors for $240,000, terms n/30 (cost. $72,000) k. Sold appliances to Boden Contracting for $180,000 (cost, $59,000), receiving a 6-month, 14% note 1. Recorded credit card sales of S75 000 (cost $25,500, net of processor fee of 2 m. Received payment in full from EFG Contractors. o. Made payment on account to SAC $320 000 q. Received payment in full on the maturity date from Boden Contracting for th n. Purchased appliances from SAC on account for $680,000 p. Sold appliances for cash to JE Home Builders for $300 000 cost $125,000) T Sold appliances to Meard Contracting for $230 000 dost 593 000) receiving a 9-month 14% note s.Made payment on account to SAC $490.000 t. Sold appliances on account to various businesses for s960 000, terms n/80 (cost $288 000 u. Colected $730 000 cash on account v. Paid cash for expenses: Saiaries $150,000 Utilities $12 000 w. Reptenished the pett ty cash fund when the fund had 562 in cash arid petty cash ticket t hels