Q3 (14marks)

The reconciling items in the Bank Reconciliation are as follows:

EFT receipt from a customer $1,200

Bank service charge $100

NSF check $2,300

EFT payment a utility bill $,1,699

Establish a petty cash fund by writing a $3,000 check

The petty cash fund has $500 in cash and $2,400 in petty cash tickets (including office supplies 1,000, Entertainment Expense $1,400) Replenished the fund and recorded the expenditures.