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Question 1 (25 points) Courtand Corp. completed the following petty cash transactions during June and Juin 2014 Juno 1 Draw a $300.00 cheque, cashed and
Question 1 (25 points) Courtand Corp. completed the following petty cash transactions during June and Juin 2014 Juno 1 Draw a $300.00 cheque, cashed and gave the proceeds and the petty cash box to Tracy Regis. The polych June 14 Purchased office supplies for $3105. to be used this month June 17 Purchased paper for the office copier $27.40, to be used this month June 18: Paid $3005 for minor computer repair June 21 Paid $25 25 to mail a contract to a client June 27 Paid $2480 for stamps June 30 Tracy Regis sorted the petty cash receipts by accounts affected and exchanged them for a cheque to rembourse the fund for expenditurus. However, there was cray 15100 cahinttund July 2 Purchased office supplies for $33.45, to be used this month July 2 Reimbursed the manager for business auto, $20.45 July 15. Paid $42.55 for stamps July 20 Purchased in for the office photocopier $3200. to be used this month July 22: Paid 547 10 COD charges on merchandise purchased for resale assume a perpetual inventory system July 31 : Tracy Regis sorted the petty cash receipts by accounts affected and exchanged them for a choque to reimburse the fund for expenditures Howtor, there was $127.50 inch the fund Prepare three journal entries one to establish the petty cash fund, the second to record the reimbursement of the fund at the end of the first month and the last to record the imbursement of the fundat the end of the second month Enter an appropriate description when entering the transactions in the journal Dates must be entered in the format dimary 15 would be 15)
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