1. A petty cash fund had $200 and the cash payments report shows $300 in miscellaneous expenses and $30 cash left. This means that the fund is (short or over) by $ 1-Jun Miscellaneous Expenses Cash over and short Cash (Cash balance - Cash remaining) Debit Credit 2. On July 15, TechCom has $200 of credit card sales with a 4% fee. Please construct a journal entry for such transaction.

1. A petty cash fund had $200 and the cash payments report shows $300 in miscellaneous expenses and $30 cash left. This means that the fund is (short or over) by $ 1-Jun Miscellaneous Expenses Cash over and short Cash (Cash balance - Cash remaining) Debit Credit 2. On July 15, TechCom has $200 of credit card sales with a 4% fee. Please construct a journal entry for such transaction.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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