Instructions July 1. Established a petty cash fund of $1,200. The cash sales for the day, according to the cash register records, 12. totaled $8,356. The actual cash received from cash sales was $8,389. 31. Petty cash on hand was $217. Replenished the petty cash fund for the following disbursements, each evidenced by a petty cash receipt: July 3. Store supplies, $510. 7. Express charges on merchandise sold, $90 (Delivery Expense). 9. Office supplies, $30. 13. Office supplies, $35. 19. Postage stamps, $50 (Office Supplies). 21. Repair to office file cabinet lock, $60 (Miscellaneous Administrative Expense). 22. Postage due on special delivery letter, $28 (Miscellaneous Administrative Expense). 24. Express charges on merchandise sold, $135 (Delivery Expense). 30. Office supplies, $25. 22. Postage due on special delivery letter, $28 (Miscellaneous Administrative Expense). 24. Express charges on merchandise sold, $135 (Delivery Expense). 30. Office supplies, $25. July 31. The cash sales for the day, according to the cash register records, totaled $10,289. The actual cash received from cash sales was $10,275. 31. Decreased the petty cash fund by $100. Required: Journalize the transactions. The cash account for Pala Medical Co. at June 30, 20Y1, indicated a balance of $166,436. The bank statement indicated a balance of $195,688 on June 30, 20Y1. Comparing the bank statement and the accompanying canceled checks and memos with the records revealed the following reconciling items: a. Checks outstanding totaled $19,427. b. A deposit of $12,300, representing receipts of June 30, had been made too late to appear on the bank statement. c. The bank collected $26,500 on a $25,000 note, including interest of $1,500. d. A check for $4,000 returned with the statement had been incorrectly recorded by Pala Medical Co. as $400. The check was for the payment of an obligation to Skyline Supply Co. for a purchase on account. e. A check drawn for $195 had been erroneously charged by the bank as $915. f. Bank service charges for June amounted to $55. Labels For the Month Ended June 30, 20Y1 June 30, 20Y1 Amount Descriptions Adjusted balance Bank error in charging check as $915 instead of $195 Bank service charges Deposit in transit on June 30 Error in recording check Note collected by bank, including $1,500 interest Outstanding checks Total additions Total deductions Pala Medical Co. Bank Reconciliation (Label) Cash balance according to bank statement Cash balance according to company's records General Journal x General Journal Instructions PAGE 1 JOURNAL ACCOUNTING EQUATION DATE DESCRIPTION POST. REF. DEBIT CREDIT ASSETS LIABILITIES EQUITY 1 2 3 4 5 Final Question 3. If a balance sheet were prepared for Pala Medical Co. on June 30, 20Y1, what amount should be reported as cash? Instructions July 1. Established a petty cash fund of $1,200. The cash sales for the day, according to the cash register records, 12. totaled $8,356. The actual cash received from cash sales was $8,389. 31. Petty cash on hand was $217. Replenished the petty cash fund for the following disbursements, each evidenced by a petty cash receipt: July 3. Store supplies, $510. 7. Express charges on merchandise sold, $90 (Delivery Expense). 9. Office supplies, $30. 13. Office supplies, $35. 19. Postage stamps, $50 (Office Supplies). 21. Repair to office file cabinet lock, $60 (Miscellaneous Administrative Expense). 22. Postage due on special delivery letter, $28 (Miscellaneous Administrative Expense). 24. Express charges on merchandise sold, $135 (Delivery Expense). 30. Office supplies, $25. 22. Postage due on special delivery letter, $28 (Miscellaneous Administrative Expense). 24. Express charges on merchandise sold, $135 (Delivery Expense). 30. Office supplies, $25. July 31. The cash sales for the day, according to the cash register records, totaled $10,289. The actual cash received from cash sales was $10,275. 31. Decreased the petty cash fund by $100. Required: Journalize the transactions. The cash account for Pala Medical Co. at June 30, 20Y1, indicated a balance of $166,436. The bank statement indicated a balance of $195,688 on June 30, 20Y1. Comparing the bank statement and the accompanying canceled checks and memos with the records revealed the following reconciling items: a. Checks outstanding totaled $19,427. b. A deposit of $12,300, representing receipts of June 30, had been made too late to appear on the bank statement. c. The bank collected $26,500 on a $25,000 note, including interest of $1,500. d. A check for $4,000 returned with the statement had been incorrectly recorded by Pala Medical Co. as $400. The check was for the payment of an obligation to Skyline Supply Co. for a purchase on account. e. A check drawn for $195 had been erroneously charged by the bank as $915. f. Bank service charges for June amounted to $55. Labels For the Month Ended June 30, 20Y1 June 30, 20Y1 Amount Descriptions Adjusted balance Bank error in charging check as $915 instead of $195 Bank service charges Deposit in transit on June 30 Error in recording check Note collected by bank, including $1,500 interest Outstanding checks Total additions Total deductions Pala Medical Co. Bank Reconciliation (Label) Cash balance according to bank statement Cash balance according to company's records General Journal x General Journal Instructions PAGE 1 JOURNAL ACCOUNTING EQUATION DATE DESCRIPTION POST. REF. DEBIT CREDIT ASSETS LIABILITIES EQUITY 1 2 3 4 5 Final Question 3. If a balance sheet were prepared for Pala Medical Co. on June 30, 20Y1, what amount should be reported as cash