Answered step by step
Verified Expert Solution
Question
1 Approved Answer
The petty cash fund of Ricco's Automotive contained the following items at the end of September 2018: Currency and coins $ 88 Receipts for the
The petty cash fund of Ricco's Automotive contained the following items at the end of September 2018:
Currency and coins | $ | 88 | ||||
Receipts for the following expenditures: | ||||||
Delivery charges | $ | 31 | ||||
Printer paper | 26 | |||||
Paper clips and rubber bands | 7 | 64 | ||||
An I.O.U. from an employee | 40 | |||||
Postage | 47 | |||||
Total | $ | 239 | ||||
The petty cash fund was established at the beginning of September with a transfer of $239 from cash to the petty cash account. Required: Prepare the journal entry to replenish the fund at the end of September. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)
Record the transaction to replenish the petty cash fund Note: Enter debits before credits. Date General Journal Debit Credit September 30, 2018
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored 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