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Waupaca Company establishes a $350 petty cash fund on September 9. on September 30, the fund shows $76 in cash along with receipts for the
Waupaca Company establishes a $350 petty cash fund on September 9. on September 30, the fund shows $76 in cash along with receipts for the following expenditures: transportation in $51: postage expenses, $63; and miscellaneous expenses, $146. The petty cashier 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. View transaction llat Journal entry worksheet 2 3 Prepare the journal entry to establish the petty cash fund. Note: Enter debits before credits General Journal Debit Credit Dato Sept 09
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