Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Question 4 Ivanhoe Company maintains a petty cash fund for small expenditures. These transactions occurred during the month F August. custodian for Aug Established th
Question 4 Ivanhoe Company maintains a petty cash fund for small expenditures. These transactions occurred during the month F August. custodian for Aug Established th 15 Replenished the petty cash fund by writing a check for $190.00. On this date, the fund consisted of $40.00 in cash and these petty cash receipts: freight-out $59.40, entertainment expense $21.00, postage expense $18.70 and miscellaneous expense $87.50. 16 Increased the amount of the petty cash fund to $430.00 by writing a check for $200.00. 31 Replenished the petty cash fund by writing a check for $298.00. On this date, the fund consisted of $132.00 expense $135.60, and freight-out $ cash fund 30.00 cash and these petty cash receipts: postage expense $130.00, entertainment 40 Journalize the petty cash transactions. (Round answers to 2 decimal places, e.g. 52.75. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Debit Date Account Titles and Explanation Credit Aug. 15 Aug. 31 Post to the Petty Cash account. (Post entries in the order of journal entries posted in part (a).) Petty Cash
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started