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Horvath Company uses an imprest petty cash system. The fund was established on March 1 with a balance of $110. During March, the following petty
Horvath Company uses an imprest petty cash system. The fund was established on March 1 with a balance of $110. During March, the following petty cash receipts were found in the petty cash box.
Date Receipt No. For Amount
3/5 1 Stamp Inventory $38
7 2 Freight-Out 15
9 3 Miscellaneous Expense 12
11 4 Travel Expense 32
14 5 Miscellaneous Expense 7
The fund was replenished on March 15 when the fund contained $4in cash. On March 20, the amount in the fund was increased to $205.
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