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Need help! On June 1, Bash Salad Dressings creates a petty cash fund with an imprest balance of $600. During June, Jackson Demers, the fund
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On June 1, Bash Salad Dressings creates a petty cash fund with an imprest balance of $600. During June, Jackson Demers, the fund custodian, signs the following petty cash tickets: (Click the icon to view the petty cash tickets.) Read the requirements Requirement 1. Explain the characteristics and the internal control features of an imprest fund. An imprest fund has fund custodian is responsible. plus the that support payments from the fund. The internal control feature of an imprest fund is that it the amount of money for which the Data table Requirements 1. Explain the characteristics and the internal control features of an imprest fund. 2. On June 30 , how much cash should the petty cash fund hold before it is replenished? 3. Journalize all required entries to create the fund and replenish it. Include explanations. 4. Make the July 1 entry to increase the fund balance to $800. Include an explanation, and briefly describe what the custodian does. On June 1, Bash Salad Dressings creates a petty cash fund with an imprest balance of $600. During June, Jackson Demers, the fund custodian, signs the following petty cash tickets: (Click the icon to view the petty cash tickets.) Read the requirements Requirement 1. Explain the characteristics and the internal control features of an imprest fund. An imprest fund has fund custodian is responsible. plus the that support payments from the fund. The internal control feature of an imprest fund is that it the amount of money for which the Data table Requirements 1. Explain the characteristics and the internal control features of an imprest fund. 2. On June 30 , how much cash should the petty cash fund hold before it is replenished? 3. Journalize all required entries to create the fund and replenish it. Include explanations. 4. Make the July 1 entry to increase the fund balance to $800. Include an explanation, and briefly describe what the custodian doesStep by Step Solution
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