BE7.8 (LO 3) AP Video On March 2, Pugh Company established a petty cash fund of $100. On March 27 , the fund was replenished when it had $18 in cash and receipts for supplies $20, postage for $27, and repairs expense $35. a. Prepare the journal entries to establish the petty cash fund on March 2. b. Prepare the journal entry to replenish the petty cash fund on March 27. Record entry to replenish a petty cash fund.
BE7.8 (LO 3) AP Video On March 2, Pugh Company established a petty cash fund of $100. On March 27 , the fund was replenished when it had $18 in cash and receipts for supplies $20, postage for $27, and repairs expense $35. a. Prepare the journal entries to establish the petty cash fund on March 2. b. Prepare the journal entry to replenish the petty cash fund on March 27. Record entry to replenish a petty cash fund.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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BE7.8 (LO 3) AP Video On March 2, Pugh Company established a petty cash fund of $100. On March 27 , the fund was replenished when it had $18 in cash and receipts for supplies $20, postage for $27, and repairs expense $35. a. Prepare the journal entries to establish the petty cash fund on March 2. b. Prepare the journal entry to replenish the petty cash fund on March 27. Record entry to replenish a petty cash fund.
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