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Waupaca Company established a $340 cash petty fund on September 9. on September 30, the fun shows $62 in cash along with receipts for the
Waupaca Company established a $340 cash petty fund on September 9. on September 30, the fun shows $62 in cash along with receipts for the following expenditures: transportation-in, $56
Waupaca Company establisties a $340 petty cash fund on September 9. On September 30 , the fund shows $62 in cash along with receipts for the following expenditures: transportation-in, \$56; postage expenses, \$77: and miscellaneous expenses, \$131. The petty cashicr could not account for a $14 shortage in the fund. The company uses the perpetual system in accounting for merchandise inventory: Prepare (1) the September 9 entry to establish the fund, (2) the September 30 entry to reimburse the fund, and (3) an October 1 entry to increase the fund to $395 Journal entry worksheet Prepare the journal entry to establish the petty cash fund. Note: Enter debits before credits. Journal entry worksheet Record the reimbursement of the petty cash fund. Note: Enter debits before credits Journal entry worksheet Record the increase of the petty cash fund. Note: Enter debits before credits Step by Step Solution
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