1. Brooks Agency set up a petty cash fund for $270. At the end of the current period, the fund contained $192 and had the following receipts: entertainment, $33, postage, $21, and printing, $24. Prepare journal entries to record (a) establishment of the fund and (b) reimbursement of the fund at the end of the current period. View transaction list Journal entry worksheet Record the establishment of the petty cash fund. Nate: Enter debits befare oredits. Transaction General Journal Debit Credit 1a Hecord entry Clear entry View general journal

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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1. Brooks Agency set up a petty cash fund for $270. At the end of the current period, the fund contained $192 and had the following
receipts: entertainment, $33, postage, $21, and printing, $24.
Prepare journal entries to record (a) establishment of the fund and (b) reimbursement of the fund at the end of the current period.
View transaction list
Journal entry worksheet
Record the establishment of the petty cash fund.
Nate: Enter debits befare oredits.
Transaction
General Journal
Debit
Credit
1a
Hecord entry
Clear entry
View general journal
Transcribed Image Text:1. Brooks Agency set up a petty cash fund for $270. At the end of the current period, the fund contained $192 and had the following receipts: entertainment, $33, postage, $21, and printing, $24. Prepare journal entries to record (a) establishment of the fund and (b) reimbursement of the fund at the end of the current period. View transaction list Journal entry worksheet Record the establishment of the petty cash fund. Nate: Enter debits befare oredits. Transaction General Journal Debit Credit 1a Hecord entry Clear entry View general journal
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