Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Sunland Company maintains a petty cash fund for small expenditures. These transactions occurred during the month of August. Aug. 1 15 16 31 Established the
Sunland Company maintains a petty cash fund for small expenditures. These transactions occurred during the month of August. Aug. 1 15 16 31 Established the petty cash fund by writing a check payable to the petty cash custodian for $216.00. Replenished the petty cash fund by writing a check for $183.00. On this date, the fund consisted of $33.00 in cash and these petty cash receipts: freight-out $66.40, entertainment expense $28.00, postage expense $25.70, and miscellaneous expense $60.20. Increased the amount of the petty cash fund to $416.00 by writing a check for $200.00. Replenished the petty cash fund by writing a check for $291.00. On this date, the fund consisted of $125.00 in cash and these petty cash receipts: postage expense $138.00, entertainment expense $105.60, and freight-out $46.40. Sunland Company maintains a petty cash fund for small expenditures. These transactions occurred during the month of August. Aug 1 Established the petty cash fund by writing a check payable to the petty cash custodian for $216.00. 15 Replenished the petty cash fund by writing a check for $183.00. On this date, the fund consisted of $33.00 in cash and these petty cash receipts: freight-out $66.40, entertainment expense $28.00, postage expense $25.70, and miscellaneous expense $60.20. 16 Increased the amount of the petty cash fund to $416.00 by writing a check for $200.00. 31 Replenished the petty cash fund by writing a check for $291.00. On this date, the fund consisted of $125.00 in cash and these petty cash receipts; postage expense $138.00, entertainment expense $105.60, and freight -out $46.40
Sunland Company maintains a petty cash fund for small expenditures. These transactions occurred during the month of August. Aug. 1 15 16 31 Established the petty cash fund by writing a check payable to the petty cash custodian for $216.00. Replenished the petty cash fund by writing a check for $183.00. On this date, the fund consisted of $33.00 in cash and these petty cash receipts: freight-out $66.40, entertainment expense $28.00, postage expense $25.70, and miscellaneous expense $60.20. Increased the amount of the petty cash fund to $416.00 by writing a check for $200.00. Replenished the petty cash fund by writing a check for $291.00. On this date, the fund consisted of $125.00 in cash and these petty cash receipts: postage expense $138.00, entertainment expense $105.60, and freight-out $46.40.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered 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