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Take me to the text On June 7, 2021, Veronica decided to use a petty cash fund for her ice-cream shop. A cheque of $150
Take me to the text On June 7, 2021, Veronica decided to use a petty cash fund for her ice-cream shop. A cheque of $150 was issued and cashed. The $150 cash was given to the store supervisor who was to act as petty cash custodian. The petty cash custodian was told to obtain authorized vouchers for all payments. Petty cash was to be replenished when the balance in the cash box reached $21. a) Record the establishment of the fund on June 7. b) On June 19, this summary was prepared: Delivery Expense $53.00 Maintenance Expense $20.00 Office Expense $32.00 Postage Expense $24.00 Total $129.00 Prepare the entry to replenish the petty cash. c) On June 23, it was decided to increase the amount of the petty cash fund from $150 to $190. A cheque of $40 was issued. Record the transaction. Do not enter dollar signs or commas in the input boxes. a) Date Account Title and Explanation Debit 2021 Jun 7 Set up the petty cash fund Credit b) Enter the debit accounts in alphabetical order. Date Account Title and Explanation Debit Credit 2021 Jun 19 Replenish the petty cash fund Date Account Title and Explanation Debit Credit 2021 Jun 23 Increase the petty cash float
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