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Please help! I cannot figure out how to correctly solve the Petty Cash account problem. Problem 8-03A a-b (Video) Bonita Company maintains a petty cash
Please help! I cannot figure out how to correctly solve the Petty Cash account problem.
Problem 8-03A a-b (Video) Bonita 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 $215. 15 Replenished the petty cash fund by writing a check for $211.20. On this date, the fund consisted of $3.80 in cash and these petty cash receipts: freight-out $94.00, entertainment expense $45.90, postage expense $41.40, and miscellaneous expense $28.00. 16 Increased the amount of the petty cash fund to $320 by writing a check for $105.00. 31 Replenished the petty cash fund by writing a check for $304.30. On this date, the fund consisted of $15.70 in cash and these petty cash receipts: postage expense $142.00, entertainment expense $93.80, and freight- out $67.30. Your answer is partially correct. Try again. 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.) Date Account Titles and Explanation Debit Credit TAug. 1 Petty Cash T Cash (cash over and Short 215 TAug. 15 Freight-Out PINDLE Entertainment Expense Postage Expense Miscellaneous Expense 2 11.20 Cash Petty Cash Aug. 16 v JO JC105 JC1 Cash 105 Aug. 31 Cash Over and Short Taug. 31 vcash over and short 1 1.2014 1.20 Postage Expense 142|| Entertainment Expense 93.80 i T 93.80 67.30 Freight-Out L Cash 304.30 SHOW LIST OF ACCOUNTS LINK TO TEXT Your answer is partially correct. Try again. Post to the Petty Cash account. (Post entries in the order of journal entries presented in the previous part.) Petty Cash 2 211.20 4072 98/16 U 78/31. Bal. 1318/16 1058/16 i 519 8/31. Bal. 105 519 Click if you would like to Show Work for this question: Open Show Work
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