Prepare journal entries for each of the following (Refer to the Chart of Accounts for exact wording of account titles) Instructions a On July 1, issued a check to establish a petty cash fund of $745 b The amount of cash in the petty cash fund is $102 Issued a check to replenish the fund, based on the following summary of petty cash receipts store supplies, $506, and miscellaneous selling expense, $86 Record any missing funds in the cash short and over account CHART OF ACCOUNTS General Ledger ASSETS 110 Cash 111 Petty Cash 120 Accounts Receivable 131 Notes Receivable 132 Interest Receivable 141 Merchandise Inventory 145 Office Supplies 146 Store Supplies 151 Prepaid Insurance 181 Land 191 Office Equipment 192 Accumulated Depreciation Office Equipment 193 Store Equipment 194 Accumulated Depreciation Store Equipment LIABILITIES 210 Accounts Payable 221 Notes Payable 222 Interest Payable 231 Salaries Payable 241 Sales Tax Payable EQUITY 310 Common Stock 311 Retained Earnings 312 Dividends REVENUE 410 Sales 610 Interest Revenue EXPENSES 510 Cost of Merchandise Sold 515 Credit Card Expense 516 Cash Short and Over 520 Salaries Expense 531 Advertising Expense 532 Delivery Expense 533 Insurance Expense 534 Office Supplies Expense 535 Rent Expense 536 Repairs Expense 537 Selling Expenses 538 Store Supplies Expense 561 Depreciation Expense Office Equipment 562 Depreciation Expense Store Equipment 591 Miscellaneous Administrative Expense 592 Miscellaneous Selling Expense 710 Interest Expense a On July 1, issued a check to establish a petty cash fund of $745 Refer to the Chart of Accounts for exact wording of account titles PAGE 1 JOURNAL ACCOUNTING EQUATION DATE DESCRIPTION POST REF DEBIT CREDIT ASSETS LIABILITIES EQUITY 1 2 b On December 31, the amount of cash in the petty cash fund is $102 Issued a check to replenish the fund, based on the following summary of petty cash receipts store supplies, $506, and miscellaneous selling expense, $86 Record any missing funds in the cash short and over account Refer to the Chart of Accounts for exact wording of account titles PAGE 1 JOURNAL ACCOUNTING EQUATION DATE DESCRIPTION POST REF DEBIT CREDIT ASSETS LIABILITIES EQUITY 1 2 3 4

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Prepare journal entries for each of the following (Refer to the Chart of Accounts for exact wording of account titles): Instructions a. On July 1,

Prepare journal entries for each of the following (Refer to the Chart of Accounts for exact wording of account titles):

	Instructions
a.	On July 1, issued a check to establish a petty cash fund of $745.
b.	The amount of cash in the petty cash fund is $102. Issued a check to replenish the fund, based on the following summary of petty cash receipts: store supplies, $506, and miscellaneous selling expense, $86. Record any missing funds in the cash short and over account.

CHART OF ACCOUNTS

General Ledger

	ASSETS
110	Cash
111	Petty Cash
120	Accounts Receivable
131	Notes Receivable
132	Interest Receivable
141	Merchandise Inventory
145	Office Supplies
146	Store Supplies
151	Prepaid Insurance
181	Land
191	Office Equipment
192	Accumulated Depreciation-Office Equipment
193	Store Equipment
194	Accumulated Depreciation-Store Equipment

	LIABILITIES
210	Accounts Payable
221	Notes Payable
222	Interest Payable
231	Salaries Payable
241	Sales Tax Payable

	EQUITY
310	Common Stock
311	Retained Earnings
312	Dividends

	REVENUE
410	Sales
610	Interest Revenue

	EXPENSES
510	Cost of Merchandise Sold
515	Credit Card Expense
516	Cash Short and Over
520	Salaries Expense
531	Advertising Expense
532	Delivery Expense
533	Insurance Expense
534	Office Supplies Expense
535	Rent Expense
536	Repairs Expense
537	Selling Expenses
538	Store Supplies Expense
561	Depreciation Expense-Office Equipment
562	Depreciation Expense-Store Equipment
591	Miscellaneous Administrative Expense
592	Miscellaneous Selling Expense
710	Interest Expense

a. On July 1, issued a check to establish a petty cash fund of $745. Refer to the Chart of Accounts for exact wording of account titles.

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JOURNAL

ACCOUNTING EQUATION

	DATE	DESCRIPTION	POST. REF.	DEBIT	CREDIT	ASSETS	LIABILITIES	EQUITY
1
2

b. On December 31, the amount of cash in the petty cash fund is $102. Issued a check to replenish the fund, based on the following summary of petty cash receipts: store supplies, $506, and miscellaneous selling expense, $86. Record any missing funds in the cash short and over account. Refer to the Chart of Accounts for exact wording of account titles.

PAGE 1

JOURNAL

ACCOUNTING EQUATION