ournalize the entries to record the following: Required: a. On March 1, check is issued to establish a petty cash fund of $1,175. b. On April 1, The amount of cash in the pefty cash fund is now $110. Check is issued to replenish the fund, based on the following summary of petty cash receipts: office supplies, $665; miscellaneous seling expense, $211; miscellaneous administrative expense, $178. If the amount of the check to replenish the fund pius the balance in the fund do not equal $1,175, record the discrepancy in the cash short and over account. . 'Refer to the chart of accounts for the exact wording of the account titles. CNOW journals do not use Nines for journal explanations. Every line on a joumal page is used for debit or credit entries. CNOW joumals will automatically indont a credit entry when a crodit amount is entered. Chart of Accounts CHART OF ACCOUNTS General Ledger ASSETS REVENUE 110 Cash 410 Sales 111 Petty Cash 610 Interest Revenue 120 Accounts Receivable 131 Notes Receivable EXPENSES 132 Interest Receivable 510 Cost of Merchandise Sold 141 Merchandise Inventory 515 Credit Card Expense 145 Office Supplies 516 Cash Short and Over 146 Store Supplies 520 Salaries Expense 151 Prepaid Insurance 531 Advertising Expense 181 Land 532 Delivery Expense 191 Ofice Equipment 533 Insurance Expense 192 Accumulated Depreciation-Olfice Equipment 534 Office Supplies Expense 193 Store Equipment 535 Rent Expense Chart of Accounts 146 Store Supplies SCU Salanes Expense 151 Prepaid Insurance 531 Advertising Expense 181 Land 532 Delivery Expense 191 Office Equipment 533 Insurance Expense 192 Accumulated Depreciation-Office Equipment 534 Office Supplies Expense 193 Store Equipment 535 Rent Expense 194 Accumulated Depreciation-Store Equipment 536 Repairs Expense 537 Selling Expenses LIABILITIES 538 Store Supplies Expense 210 Accounts Payable 561 Depreciation Expense-Ofice Equipment 221 Notes Payable 562 Depreciation Expense-Store Equipment 222 Interest Payable 591 Miscellaneous Administrative Expense 231 Salaries Payable 592 Miscellaneous Selling Expense 241 Sales Tax Payable 710 Interest Expense EQUITY 310 Owner, Capital 311 Owner, Drawing b. On April 1, joumalize the following transaction: The amount of cash in the petty cash fund is now $110. Check is issued to ropvenish the fund, based on the following summary of penty cash receipts: office supplies, $665; miscellaneous selling expense, $211; miscellaneous administrative expense, $178. If the amount of the check to replenish the fund plus the balance in the fund do not equal $1,175, record the discrepancy in the cash short and ower account. Fefer fo the chant of accounts for the exact wording of the account tities. CNOW journals do nof use lines for journal explanations. Every lune on a joumat page is used for debit or credit entries. CNOW joumals wil automatically indent a credt entry when a credit amount is entered. a. On March 1, joumalize the following transaction: Check is issued to establish a petty cash fund of $1,175. Aefor to the chart of accounts for the exact wording of the account tiles CNOW joumals do not use lines for joumal explanations. Every line on a journal page is used for debit or credit entries. CNOW joumals will aufomaticaly indent a credit entry when credt amount is entered
