Question
Transactions for Petty Cash, Cash Short and Over Cedar Springs Company completed the following selected transactions during June: June 1. Established a petty cash fund
Transactions for Petty Cash, Cash Short and Over Cedar Springs Company completed the following selected transactions during June: June 1. Established a petty cash fund of $670. 12. The cash sales for the day, according to the cash register records, totaled $14,454. The actual cash received from cash sales was $14,468. 30. Petty cash on hand was $51. Replenished the petty cash fund for the following disbursements, each evidenced by a petty cash receipt: June 2. Store supplies, $74. June 10. Express charges on merchandise purchased, $107 (Merchandise Inventory). June 14. Office supplies, $47. June 15. Office supplies, $54. June 18. Postage stamps, $56 (Office Supplies). June 20. Repair to fax, $134 (Miscellaneous Administrative Expense). June 21. Repair to office door lock, $47 (Miscellaneous Administrative Expense). June 22. Postage due on special delivery letter, $36 (Miscellaneous Administrative Expense). June 28. Express charges on merchandise purchased, $54 (Merchandise Inventory). 30. The cash sales for the day, according to the cash register records, totaled $17,205. The actual cash received from cash sales was $17,167. 30. Increased the petty cash fund by $168.
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