Question
Jasmine Company has established a petty cash fund for small expenditures. Prepare journal entries for the following transactions (omit explanations). April 5 Established a $200
- Jasmine Company has established a petty cash fund for small expenditures. Prepare journal entries for the following transactions (omit explanations).
| April 5 |
| Established a $200 petty cash fund with cash withdrawn from company checking account. |
| 30 |
| The petty cash fund has $10 remaining and is replenished. Expenditures for April were $60 for supplies, $50 for meals, $65 for postage, and $20 for freight-in. |
| May 31 |
| The petty cash fund has $20 remaining and is replenished. Expenditures for May were $55 for postage, $40 for charitable contributions, $56 for supplies, and $25 for freight-in. |
| GENERAL JOURNAL | ||||
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Date |
Description | Post. Ref. |
Debit |
Credit |
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Business Accounting Volume 2
Authors: Frank Wood, Alan Sangster
6th Edition
0273039148, 9780273039143
