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Suppose that on June 1, Bash Gyrations, a disc jockey service, creates a petty cash fund with an imprest balance of $350. During June, Jackson
Suppose that on June 1, Bash Gyrations, a disc jockey service, creates a petty cash fund with an imprest balance of $350. During June, Jackson Demers, fund custodian, signs the following petty cash tickets: (Click the icon to view the petty cash tickets.) On June 30, prior to replenishment, the fund contains these tickets plus cash of $186. The accounts affected by petty cash payments are Office Supplies, Entertainment Expense, and Postage Expense. Read the requirements Requirement 1. On June 30, how much cash should this petty cash fund hold before it's replenished? Before replenishment, the petty cash fund should hold cash of $ Requirements Data Table - X 1. On June 30, how much cash should this petty cash fund hold before it is replenished? 2. Journalize all required entries to (a) create the fund and (b) replenish it. Include explanations 3. Make the entry on May 1 to increase the fund balance to $375. Include an explanation Petty Cash Ticket Number 1 Amount $ 35 25 2 Item Postage for package received Office party Two boxes of stationery Printer cartridges Business dinner 3 30 Print Done 4 15 5 55 Print Done
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