Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

stuck Current Attempt in Progress The petty cash fund of Teal Mountain's Auto Repair Service, a sole proprietorship contains the following 1. 2 $20.45 68.25

image text in transcribed

stuck

Current Attempt in Progress The petty cash fund of Teal Mountain's Auto Repair Service, a sole proprietorship contains the following 1. 2 $20.45 68.25 23.50 3. 4. Coins and currency An IOU from Bob Cunningham, an employee, for a cash advance Acheque payable to Teal Mountain's Auto Repair from Pat Webber, an employee marked NSF Receipts for the following: Stamps TWO NHL playoff tickets for Al Teal Mountain Delivery of merchandise to a customer $19.35 152.00 16.05 137.40 $299.60 The general ledger account Petty Cash has a balance of $300.00. Prepare the journal entry to record the reimbursement of the petty cash fund and reduce the fund to $200.00, using the same entry (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts. Round answers to 2 decimal places, eg 52.75 Account Titles and Explanation Debit Credit V V

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Intermediate Accounting

Authors: kieso, weygandt and warfield.

14th Edition

9780470587232, 470587288, 470587237, 978-0470587287

More Books

Students also viewed these Accounting questions