Transactions for Petty Cash, Cash Short and Over

Picasso Restoration Company completed the following selected transactions during August 2014:

Aug. 1. Established a petty cash fund of $780.

12. The cash sales for the day, according to the cash register records, totaled $9,190.

The actual cash received from cash sales was $9,213.

30. Petty cash on hand was $59. Replenished the petty cash fund for the following

disbursements, each evidenced by a petty cash receipt:

Aug. 2. Store supplies, $86.

Aug. 10. Express charges on merchandise sold, $125 (Delivery Expense).

Aug. 14. Office supplies, $55.

Aug. 15. Office supplies, $62.

Aug. 18. Postage stamps, $66 (Office Supplies).

Aug. 20. Repair to fax, $156 (Miscellaneous Administrative Expense).

Aug. 21. Repair to office door lock, $55 (Miscellaneous Administrative Expense).

Aug. 22. Postage due on special delivery letter, $42 (Miscellaneous Administrative Expense).

Aug. 28. Express charges on merchandise sold, $62 (Delivery Expense).

30. The cash sales for the day, according to the cash register records, totaled $25,086.

The actual cash received from cash sales was $25,048.

30. Decreased the petty cash fund by $195.

Required:

Hide

Journalize the transactions. For a compound transaction, if an amount box does not require an entry, leave it blank.

2014, Aug. 1

Aug. 12

Aug. 30-Replenish

Aug. 30-Sale

Aug. 30-Petty cash