Current Attempt in Progress The petty cash fund of Swifty’s Auto Repair Service, a sole proprietorship, contains the following.1. Coins and currency $ 18.402. Postage stamps 6.103. An I.O.U. from Richie Cunningham, an employee, for cash advance 43.204. Check payable to Swifty’s Auto Repair from Pottsie Weber, an employee, marked NSF 37.205. Vouchers for the following: Stamps $ 23.20 Two Rose Bowl tickets for Nick Swifty 197.00 Printer cartridge (Use the Office Supplies account) 17.55 237.75 $ 342.65The general ledger account Petty Cash has a balance of $ 350.Prepare the journal entry to record the reimbursement of the petty cash fund. (Round answers to 2 decimal places, e.g. 15.25. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.) There is space for 7 (potential) account titles.

General Journal Debit Credit Accounts receivable- employee (43.2+ 37.2 ) 80.4 Nick Teasdale,…

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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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Current Attempt in Progress

The petty cash fund of Swifty’s Auto Repair Service, a sole proprietorship, contains the following.

1.	Coins and currency		$ 18.40
2.	Postage stamps		6.10
3.	An I.O.U. from Richie Cunningham, an employee, for cash advance		43.20
4.	Check payable to Swifty’s Auto Repair from Pottsie Weber, an employee, marked NSF		37.20
5.	Vouchers for the following:
	Stamps	$ 23.20
	Two Rose Bowl tickets for Nick Swifty	197.00
	Printer cartridge (Use the Office Supplies account)	17.55	237.75
			$ 342.65

The general ledger account Petty Cash has a balance of $ 350.

Prepare the journal entry to record the reimbursement of the petty cash fund. (Round answers to 2 decimal places, e.g. 15.25. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.)

There is space for 7 (potential) account titles.

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