Question
prepare entries to record the following petty cash transactions: (a) Carter Inc. established a petty cash fund of $350. (b) Carter, Inc.s petty cash fund
prepare entries to record the following petty cash transactions:
| (a) | Carter Inc. established a petty cash fund of $350. |
| (b) | Carter, Inc.s petty cash fund now has a balance of $75.80. The Company replenished the fund, based on the following disbursements as indicated by a summary of the petty cash receipts: office supplies expense, $89.50; miscellaneous administrative expense, $108.75; and miscellaneous selling expense, $65.60. |
| (c) | Carter Inc. increased the petty cash fund to $400. |
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Internal Control A Managers Journey
Authors: K. H. Spencer Pickett
1st Edition
0471402508, 978-0471402503
