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Sheffield Company established a petty cash fund on May 1, cashing a check for $105.00. The company reimbursed the fund on June 1 and July
Sheffield Company established a petty cash fund on May 1, cashing a check for $105.00. The company reimbursed the fund on June 1 and July 1 with the following results. June 1: Cash in fund $5.85. July 1: Cash in fund $3.10. On July 10, Sheffield increased the fund from $105.00 to $135. Receipts: delivery expense $27.50, postage expense $36.50, and miscellaneous expense $35.15. Receipts: delivery expense $21.90, entertainment expense $52.20, and miscellaneous expense $27.80. Prepare journal entries for Sheffield Company for May 1, June 1, July 1, and July 10. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Round answers to 2 decimal places, eg. 52.75. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation eTextbook and Media Debit Credit
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