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On April 2, Granger Sales decides to establish a $280 petty cash fund to relieve the burden on Accounting. a. Journalize the establishment of the
On April 2, Granger Sales decides to establish a $280 petty cash fund to relieve the burden on Accounting. a. Journalize the establishment of the fund. If an amount box does not require an entry, leave it blank, Apr. 2 b. On April 10, the petty cash fund has receipts for mall and postage of $54, contributions and donations of $15, and meals and entertainment of $98, and $111 in cash. Journalize the replenishment of the fund. If an amount box does not require an entry, leave it blank. Apr. 10 c. On April 11, Granger Sales decides to increase petty cash to $360, Journalize this event. If an amount box does not require an entry, leave it blank. Apr. 11 Using the following information: 1. The bank statement balance is $4,776. 2. The cash account balance is $5,184. 3. Outstanding checks amounted to $658. 4. Deposits in transit are $997. 5. The bank service charge is $60. 6. A check for $39 for supplies was recorded as $30 in the ledger. Prepare a bank reconciliation for Candace Co. for May 31. Candace Co. Bank Reconciliation May 31 Cash balance according to bank statement Adjusted balance Cash balance according to company's records Adjusted balance
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