Conway Designs established a $290 petty cash fund on October 1, 2020. Prepare the entry to replenish the fund at the end of each of the following months of activity:The petty cash box contained $32 on October 31 along with receipts for $150 for cleaning, $35 for postage, and $63 for delivery expenses.On November 30, the petty cash box contained only two receipts, for a $105 computer repair and a $131 entertainment expense. The petty cash custodian counted cash remaining of $58.The petty cash box contained $15 on December 31 plus receipts for $61 for gas expense, $146 for office supplies, and $68 for entertainment expenses. In addition to replenishing the fund, it was increased by $80.Journal Entry 1. Record to reimburse the fund (Oct 31, 2020)2. Record to reimburse the fund (Nov 30, 2020)3. Record to reimburse the fund (Dec 31, 2020) DateGeneral JournalDebitCreditOct 31, 2020 DateGeneral JournalDebitCreditOct 31, 2020

Req-1 Date General Journal Debit Credit Oct 31, 2020 Cleaning expenses $150…

Answered: Conway Designs established a $290 petty…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

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Conway Designs established a $290 petty cash fund on October 1, 2020. Prepare the entry to replenish the fund at the end of each of the following months of activity:

The petty cash box contained $32 on October 31 along with receipts for $150 for cleaning, $35 for postage, and $63 for delivery expenses.
On November 30, the petty cash box contained only two receipts, for a $105 computer repair and a $131 entertainment expense. The petty cash custodian counted cash remaining of $58.
The petty cash box contained $15 on December 31 plus receipts for $61 for gas expense, $146 for office supplies, and $68 for entertainment expenses. In addition to replenishing the fund, it was increased by $80.

Journal Entry

1. Record to reimburse the fund (Oct 31, 2020)

2. Record to reimburse the fund (Nov 30, 2020)

3. Record to reimburse the fund (Dec 31, 2020)

Date
General Journal
Debit
Credit
Oct 31, 2020

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