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Prepare journal entries for each of the following (Refer to the Chart of Accounts for exact wording of account titles): a. On July 1, issued
Prepare journal entries for each of the following (Refer to the Chart of Accounts for exact wording of account titles):
| a. | On July 1, issued a check to establish a petty cash fund of $500. |
| b. | The amount of cash in the petty cash fund is $85. Issued a check to replenish the fund, based on the following summary of petty cash receipts: store supplies, $360, and miscellaneous selling expense, $40. Record any missing funds in the cash short and over account. |
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Accounting Principles
Authors: Jerry Weygandt, Paul Kimmel, Donald Kieso
12th edition
1119132223, 978-1-119-0944, 1118875052, 978-1119132226, 978-1118875056
