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E8.8 (LO 2) Horvath Company uses an imprest petty cash system. The fund was established on March 1 with a balance of $100. During March, the following petty cash receipts were found in the petty cash box. Date 3/5 For Stamp Inventory Freight-Out Miscellaneous Expense Travel Expense Miscellaneous Expense The fund was replenished on March 15 when the fund contained $2 in cash. On March 20, the amount in the fund was increased to $175. Receipt No. 9 1 2 3 Amount $39 21 6 4 5 24 5 Prepare journal entries for a petty cash fund.

E8.8 (LO 2) Horvath Company uses an imprest petty cash system. The fund was established on March 1 with a balance of $100. During March, the following petty cash receipts were found in the petty cash box. Date 3/5 For Stamp Inventory Freight-Out Miscellaneous Expense Travel Expense Miscellaneous Expense The fund was replenished on March 15 when the fund contained $2 in cash. On March 20, the amount in the fund was increased to $175. Receipt No. 9 1 2 3 Amount $39 21 6 4 5 24 5 Prepare journal entries for a petty cash fund.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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E8.8

### Instructions Prepare journal entries for Setterstrom Company for May 1, June 1, July 1, and July 10. --- ### E.8 (LO 2) Horvath Company uses an imprest petty cash system. The fund was established on March 1 with a balance of $100. During March, the following petty cash receipts were found in the petty cash box. | Date | Receipt No. | For | Amount | |------|-------------|----------------------|--------| | 3/5 | 1 | Stamp Inventory | $39 | | 7 | 2 | Freight-Out | $21 | | 9 | 3 | Miscellaneous Expense| $6 | | 11 | 4 | Travel Expense | $24 | | 14 | 5 | Miscellaneous Expense| $5 | The fund was replenished on March 15 when the fund contained $2 in cash. On March 20, the amount in the fund was increased to $175. ### Instructions Journalize the entries in March that pertain to the operation of the petty cash fund.
Transcribed Image Text:### Instructions Prepare journal entries for Setterstrom Company for May 1, June 1, July 1, and July 10. --- ### E.8 (LO 2) Horvath Company uses an imprest petty cash system. The fund was established on March 1 with a balance of $100. During March, the following petty cash receipts were found in the petty cash box. | Date | Receipt No. | For | Amount | |------|-------------|----------------------|--------| | 3/5 | 1 | Stamp Inventory | $39 | | 7 | 2 | Freight-Out | $21 | | 9 | 3 | Miscellaneous Expense| $6 | | 11 | 4 | Travel Expense | $24 | | 14 | 5 | Miscellaneous Expense| $5 | The fund was replenished on March 15 when the fund contained $2 in cash. On March 20, the amount in the fund was increased to $175. ### Instructions Journalize the entries in March that pertain to the operation of the petty cash fund.
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