part 1

part 2

part 3

Waupaca Company establishes a $350 petty cash fund on September 9 . On September 30 , the fund shows $105 in cash along with receipts for the following expenditures: transportation-in, $60; postage expenses, $53; and miscellaneous expenses, $120. The petty cashier could not account for a $12 shortage in the fund. The company uses the perpetual system in accounting for merchandise inventory. Prepare (1) the September 9 entry to establish the fund, (2) the September 30 entry to reimburse the fund, and (3) an October 1 entry to increase the fund to $380. Journal entry worksheet Prepare the journal entry to establish the petty cash fund. Nate: Enter debits before credits. Waupaca Company establishes a $350 petty cash fund on September 9 . On September 30 , the fund shows $105 in cash along with receipts for the following expenditures: transportation-in, $60; postage expenses, $53; and miscellaneous expenses, $120. The petty cashier could not account for a $12 shortage in the fund. The company uses the perpetual system in accounting for merchandise inventory. Prepare (1) the September 9 entry to establish the fund, (2) the September 30 entry to reimburse the fund, and (3) an October 1 entry to increase the fund to $380. Journal entry worksheet 3 Record the reimbursement of the petty cash fund. Note: Lnter debits before credits. Waupaca Company establishes a $350 petty cash fund on September 9 . On September 30 , the fund shows $105 in cash along with receipts for the following expenditures: transportation-in, $60; postage expenses, $53; and miscellaneous expenses, $120. The petty cashier could not account for a $12 shortage in the fund. The company uses the perpetual system in accounting for merchandise inventory. Prepare (1) the September 9 entry to establish the fund, (2) the September 30 entry to reimburse the fund, and (3) an October 1 entry to increase the fund to $380. Journal entry worksheet 2