Answered step by step
Verified Expert Solution
Question
1 Approved Answer
May 15 c. Paid postage expenses of $69.60. May 15 d. Paid $91.44 to Facebook for advert ising expense. May 15e. Counted $30.68 renaining in
May 15 c. Paid postage expenses of $69.60. May 15 d. Paid $91.44 to Facebook for advert ising expense. May 15e. Counted $30.68 renaining in the petty cashbox. May 16 Prepared a company check for $200 to increase the fund to $600. May 31 The petty cashier reports that $396.19 cash remains in the fund. A company check is drawn to replenish the fund for th following expenditures made since May 15. May 31f. Paid postage expenses of $64.48. May 31g. Reinbursed the of fice manager for mileage expense, \$51.33. May 31h. Paid $53.00 in delivery expense for products to a customer, terns foB destination. May 31 The company decides that the May 16 increase in the fund was too large. It reduces the fund by $50, leaving a tota1 of Required: Prepare journal entries to establish the fund on May 1, to replenish it on May 15 and on May 31 , and to reflect any increase or dec in the fund balance on May 16 and May 31 Note: Round your enswers to 2 decimal pleces. Answer is complete but not entirelv correct
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started