QUESTION 1

On September 28th, the management of Enterprise XYZ established a petty cash fund of $50.00 which was used to pay the following expenses. the petty cash was refilled on October 5th.

Delivery expenses$18.50

Postage stamps$10.00

Office furniture$ 4.00

Miscellaneous expense$ 5.25

The petty cash balance on October 5th was $12.00

Open the Excel petty cash register and enter transactions.

Prepare the general journal entry to create the petty cash on September 28th and to reconstitute it on October 5th. taking into account the deficit or the surplus

use the general journal sheets here attached to write the transactions.

No GST and QST on these amounts.