Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Principles of Accounting 1 III PETTY CASH FUND (15 points) Prepare entries in general journal form to record the following transactions: A. Issued check no.

image text in transcribed
Principles of Accounting 1 III PETTY CASH FUND (15 points) Prepare entries in general journal form to record the following transactions: A. Issued check no. 256 for $200 to establish a petty cash fund on March 1, 2000, B. The petty cash fund has a balance of $30.92 on March 31. Record a journal entry to replenish the fund on March 31 based on the following summary of the petty cash receipts: office supplies expense, $49.88; postage $80.00; delivery service $24.80 and miscellaneous expenses, $14.40. C. On April 30, the petty cash fund has a balance of $44.12; and the summary of expenses were: supplies expense, $65.68; postage expense $68.40; delivery service $12.80.Record the journal entry to replenish the fund

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

SAP S/4 HANA For Financial Accounting Associates SAP Certified Application Associate

Authors: D Jacobs ,S Matiana

1st Edition

1545316171, 978-1545316177

More Books

Students also viewed these Accounting questions