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Please, dont cut off some of the answers. Thanks. The following annual account balances are from Armour Sports at December 31. Year 2 Year 1
Please, dont cut off some of the answers.
The following annual account balances are from Armour Sports at December 31. Year 2 Year 1 Accounts receivable $ 25,180 $ 12,214 Net sales 256,836 112, 314 0. Complete the below table to calculate the number of days' sales uncollected for the Year 1 and Year 2 (Do not round intermediate calculations. Round your "Doys' Soles Uncollected" to 1 decimal place.) Days. Sales Uncollected Choose Denominator: Days Choose Numerator: 1 1 Days' Sales Uncollected Days' sales uncollected days days X 1 Year 2 Year 1: x Waupaca Company establishes a $350 petty cash fund on September 9. on September 30, the fund shows $98 in cash along with receipts for the following expenditures: transportation in $59 postage expenses, $50, and miscellaneous expenses. $139. The petty cashier could not account for a $4 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 $430 View transaction list Journal entry worksheet 2 3 1 > Prepare the journal entry to establish the petty cash fund. Note: Enter debits before credits General Journal Debit Credit Date September 09 Palmona Company establishes a $260 petty cash fund on January 1. On January 8, the fund shows $163 in cash along with receipts for the following expenditures: postage. $39, transportation in, 514: delivery expenses $16; and miscellaneous expenses, $28. Palmona uses the perpetual system in accounting for merchandise inventory 1. Prepare the entry to establish the fund on January 1 2. Prepare the entry to relmburse the fund on January 8 under two separate situations: a. To reimburse the fund. b. To reimburse the fund and increase it to $310. Hint Make two entries. View transaction list Journal entry worksheet 1 2 3 4 Record the journal entry to establish the petty cash fund Note: Enter debits before credits Debit Credit General Journal Date January 01 Thanks.
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