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please do all 3 do not attempt if you cant. A company establishes a $470 petty cash fund on October 1 . On October 31
please do all 3 do not attempt if you cant.
A company establishes a $470 petty cash fund on October 1 . On October 31 , the fund shows $201 in cash along with receipts for the following expenditures: Entertainment expenses, \$53; postage expenses, \$63; and miscellaneous expenses, \$143. The petty cashier could not account for a $10 shortage in the fund. The company uses the perpetual inventory system. Prepare (1) the October 1 entry to establish the fund, (2) the October 31 entry to reimburse the fund, and (3) the November 1 entry to increase the fund to $505. Journal entry worksheet Prepare the joumal entry to establish the petty cash fund. Wote: Enter debits before credts. A company establishes a $470 petty cash fund on October 1 . On October 31 , the fund shows $201 in cash alon following expenditures: Entertainment expenses, $53; postage expenses, $63; and miscellaneous expenses, could not account for a $10 shortage in the fund. The company uses the perpetual inventory system. Prepare (1) the October 1 entry to establish the fund, (2) the October 31 entry to reimburse the fund, and (3) the increase the fund to $505. Journal entry worksheet Record the reimbursement of the petty cash fund. Note: Enter debits before credits. A company establishes a $470 petty cash fund on October 1 . On October 31 , the fund shows $201 in following expenditures: Entertainment expenses, $53; postage expenses, $63; and miscellaneous expenses, $143. The pet could not account for a $10 shortage in the fund. The company uses the perpetual inventory system. Prepare (1) the October 1 entry to establish the fund, (2) the October 31 entry to reimburse the fund, and (3) the November 1 increase the fund to $505. Journal entry worksheet Note: Enter debits before credits Step by Step Solution
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