Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

T. L. Jones Trucking Services establishes a petty cash fund on April 3 for $450. By the end of April, the fund has a cash

image text in transcribed

T. L. Jones Trucking Services establishes a petty cash fund on April 3 for $450. By the end of April, the fund has a cash balance of $379. The company has also issued a credit card and authorized its office manager to make purchases. Expenditures for the month include the following items $119 Utilities (credit card) Entertainment (petty cash) Stamps (petty cash) Plumbing repair services (credit card) 28 43 214 Required 1. Record the establishment of the petty cash fund on April 3 2. Record credit card expenditures during the month. The credit card balance is paid in full on April 30 3. Record petty cash expenditures during the month (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) Answer is not complete. Date Debit General Journal Credit 0 Petty Cash April 03 450 Cash 450 2 April 30 Utilities Expense 119 Postage Expense 43 Entertainment Expense 28 214 Repairs and Maintenance Expense Petty Cash 71 3 Cash 71 April 30 Petty Cash 71

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_2

Step: 3

blur-text-image_3

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

I Don T Trust You But Blockchain And Bitcoin Will Help

Authors: Damu Winston Mba

1st Edition

1734182512, 978-1734182514

More Books

Students also viewed these Finance questions

Question

Describe the components of project planning. (FESHE/FESA)

Answered: 1 week ago

Question

Do questions 5 and 4. Drive 1 LTE 1:26 AM 7 18%D

Answered: 1 week ago