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The following documentation was found in Eagle Nest Company's petty cash box, for the month of March. March Receipt 3 Canada Post 8 Jimmy's Parcel
The following documentation was found in Eagle Nest Company's petty cash box, for the month of March.
March Receipt
3 Canada Post
8 Jimmy's Parcel Express 11 PetroCan
16 Staples
22 Panago Pizza
29 City of Saskatoon
Description Amount
Postage 5.25
The opening balance of the petty cash fund was $200 and the amount of cash remaining at the end of the month is $32.85. The company wants to reduce the petty cash fund to $150.
REQUIRED:
Prepare a general journal entry to replenish the petty cash fund for the month of March and adjust it to the new desired level.
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Fundamental financial accounting concepts
Authors: Thomas P. Edmonds, Frances M. Mcnair, Philip R. Olds, Edward
8th edition
978-007802536, 9780077648831, 0078025362, 77648838, 978-0078025365
