1) Blake's Shotgun Manufacturing Company guarantees that their guns will cause the ducks to "quack up". This company set up a petty cash fund on November 1, 2021. Following are the transactions that they had regarding the fund during the month of November, Prepare all the necessary journal entries. November 1-Established a petty cash by writing a check for $100 November 15-Replenished the petty cash by writing a check for $97. On this date, the petty cash fund had $3 of cash. They had the following receipts Postage $39; Electricity to charge the Tesla $28; Office supplies $21; and $10 for Entertainment. November 16-Increased the amount in the Petty Cash fund by $100 November 30-Replenished the Petty Cash Fund by writing a check for $196. On this date, the Petty Cash fund consisted of $4 cash and the following receipts: $102 for postage; $82 for electric for the Tesla; $10 for Entertainment
1) Blake's Shotgun Manufacturing Company guarantees that their guns will cause the ducks to "quack up". This company set up a petty cash fund on November 1, 2021. Following are the transactions that they had regarding the fund during the month of November, Prepare all the necessary journal entries. November 1-Established a petty cash by writing a check for $100 November 15-Replenished the petty cash by writing a check for $97. On this date, the petty cash fund had $3 of cash. They had the following receipts Postage $39; Electricity to charge the Tesla $28; Office supplies $21; and $10 for Entertainment. November 16-Increased the amount in the Petty Cash fund by $100 November 30-Replenished the Petty Cash Fund by writing a check for $196. On this date, the Petty Cash fund consisted of $4 cash and the following receipts: $102 for postage; $82 for electric for the Tesla; $10 for Entertainment
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
![1) Blake's Shotgun Manufacturing Company guarantees that their guns will cause the ducks to
"quack up". This company set up a petty cash fund on November 1, 2021. Following are the
transactions that they had regarding the fund during the month of November,
Prepare all the necessary journal entries.
November 1-Established a petty cash by writing a check for $100
November 15- Replenished the petty cash by writing a check for $97. On this date, the petty
cash fund had $3 of cash. They had the following receipts Postage $39; Electricity to charge the
Tesla $28; Office supplies $21; and $10 for Entertainment.
November 16-Increased the amount in the Petty Cash fund by $100
November 30-Replenished the Petty Cash Fund by writing a check for $196. On this date, the
Petty Cash fund consisted of $4 cash and the following receipts: $102 for postage; $82 for
electric for the Tesla; $10 for Entertainment](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F067ce7d2-f100-4f1a-b495-b300a7f314eb%2F3e2d9993-cbee-4da6-a8e5-3e79bf1119c8%2Fe23xuq_processed.jpeg&w=3840&q=75)
Transcribed Image Text:1) Blake's Shotgun Manufacturing Company guarantees that their guns will cause the ducks to
"quack up". This company set up a petty cash fund on November 1, 2021. Following are the
transactions that they had regarding the fund during the month of November,
Prepare all the necessary journal entries.
November 1-Established a petty cash by writing a check for $100
November 15- Replenished the petty cash by writing a check for $97. On this date, the petty
cash fund had $3 of cash. They had the following receipts Postage $39; Electricity to charge the
Tesla $28; Office supplies $21; and $10 for Entertainment.
November 16-Increased the amount in the Petty Cash fund by $100
November 30-Replenished the Petty Cash Fund by writing a check for $196. On this date, the
Petty Cash fund consisted of $4 cash and the following receipts: $102 for postage; $82 for
electric for the Tesla; $10 for Entertainment
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