Question
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 $119. Issued a check to replenish the fund, based on the following summary of petty cash receipts: store supplies, $517, and miscellaneous selling expense, $88. Record any missing funds in the cash short and over account. |
Chart of Accounts
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Journal
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
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B. On December 31, the amount of cash in the petty cash fund is $119. Issued a check to replenish the fund, based on the following summary of petty cash receipts: store supplies, $517, and miscellaneous selling expense, $88. Record any missing funds in the cash short and over account. Refer to the Chart of Accounts for exact wording of account titles.
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JOURNAL
ACCOUNTING EQUATION
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