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Part 1 is already complete: I just need Part 2: Thank you in advance! Problem 8-03A a-b (Part Level Submission) (Video) Crane Company maintains a
Part 1 is already complete:I just need Part 2:
Thank you in advance!
Problem 8-03A a-b (Part Level Submission) (Video) Crane Company maintains a petty cash fund for small expenditures. These transactions occurred during the month of August. Aug. 1 Established the petty cash fund by writing a check payable to the petty cash custodian for $200. 15 Replenished the petty cash fund by writing a check for $197.00. On this date, the fund consisted of $3.00 in cash and these petty cash receipts: freight-out $92.00, entertainment expense $45.00, postage expense $40.00, and miscellaneous expense $19.00. 16 Increased the amount of the petty cash fund to $300 by writing a check for $100.00. 31 Replenished the petty cash fund by writing a check for $284.50. On this date, the fund consisted of $15.50 in cash and these petty cash receipts: postage expense $138.00, entertainment expense $92.00, and freight-out $53.50. (a) Your answer is correct. Journalize the petty cash transactions. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Round answers to 2 decimal places, e.g. 52.75.) Debit Credit Date Aug. 1 Account Titles and Explanation Petty Cash 200.00 Cash 200.00 Aug. 15 Freight-Out Entertainment Expense 45.00 T Postage Expense 40.000 Miscellaneous Expense 19.000 Cash Over and Short 1.00|| Cash 197.00 Aug. 16 TPetty Cash 11 00.00 Cash T 100.00 Aug. 31 | Postage Expense Entertainment Expense 92.0011 Freight-Out Cash Over and Short Cash 284.50 (b) Post to the Petty Cash account. (Post entries in the order of journal entries presented in the previous part.) Petty Cash Click if you would like to Show Work for this question: Open Show WorkStep by Step Solution
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