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Mitchell Co. set up a petty cash fund for payments of small amounts. The following transactions involving the petty cash fund in May May 1
Mitchell Co. set up a petty cash fund for payments of small amounts. The following transactions involving the petty cash fund in May May 1 Prepared a company check for $550 to establish the petty cash fund. red a company check to replenish the fund for the tollowing expenditures nade since May 1. a. Paid $294 for janitorial services b. Paid $245 for miscellaneous expenses. c. Paid postage expenses of $97 d. Paid $48 to e. Counted $77 remaining in the petty cash box The County Gazette (the local nevspaper) for an advertisenent. May 16 Prepared a company check for $250 to inerease the fund to $800. May 31 Th e petty cashier reports that $320 cash remains in the fund. A company check is drawn to replenish the fund for the following expenditures made since May 15. t. Paid postage expenses ot $280 g. Reimbursed the office nanager for business mileage, $140 h. Paid $46 to deliver merchandise to a customer, terms FOB destination. May 31 the company decides that the Hay S increase in the fund was too large. rt reduces the fund by $200, leavin total of $600. General ournal Ledger Trial Balance Impact on Prepare the journal entries for each of the petty cash transactions
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