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I need a journal entry answer for accounting. Please help!!! T. L. Jones Trucking Services establishes a petty cash fund on April 3 for $200.
I need a journal entry answer for accounting. Please help!!!
T. L. Jones Trucking Services establishes a petty cash fund on April 3 for $200. By the end of April, the fund has a cash balance of $97. The company has also issued a credit card and authorized its office manager to make purchases. Expenditures for the month include the following items:
Utilities (credit card) | $ | 435 | |
Entertainment (petty cash) | 44 | ||
Stamps (petty cash) | 59 | ||
Plumbing repair services (credit card) | 630 | ||
Required:
- Record the establishment of the petty cash fund on April 3.
- Record credit card expenditures during the month. The credit card balance is paid in full on April 30.
- Record petty cash expenditures during the month.
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