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Exercise 4-13 (Algo) Record transactions for employee purchases (LO4-6) Smith Trucking Services establishes a petty cash fund on April 3 for $500. By the end of April, the fund has a cash balance of $403. The company has also issued a credit card and authorized its office manager to make purchases. Expenditures for the month include the following items: Utilities (credit card) Entertainment (petty cash) Postage (petty cash) Repairs and maintenance (credit card) Required: 1. Record the establishment of the petty cash fund on April 3. 2. Record credit card expenditures during the month. The credit card balance is paid in full on April 30. 3. Record petty cash expenditures during the month. Of no entry is required for a transaction/event, select "No Journal Entry Required" In the first account field.) $132 41 56 227

Exercise 4-13 (Algo) Record transactions for employee purchases (LO4-6) Smith Trucking Services establishes a petty cash fund on April 3 for $500. By the end of April, the fund has a cash balance of $403. The company has also issued a credit card and authorized its office manager to make purchases. Expenditures for the month include the following items: Utilities (credit card) Entertainment (petty cash) Postage (petty cash) Repairs and maintenance (credit card) Required: 1. Record the establishment of the petty cash fund on April 3. 2. Record credit card expenditures during the month. The credit card balance is paid in full on April 30. 3. Record petty cash expenditures during the month. Of no entry is required for a transaction/event, select "No Journal Entry Required" In the first account field.) $132 41 56 227

FINANCIAL ACCOUNTING
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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3. Record petty cash expenditures during the month. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first ac View transaction list Journal entry worksheet < 1 2 Record petty cash expenditures during the month. Note: Enter debits before credits. Date 3 April 30 Record entry General Journal Clear entry Debit Credit View general journal
Transcribed Image Text:3. Record petty cash expenditures during the month. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first ac View transaction list Journal entry worksheet < 1 2 Record petty cash expenditures during the month. Note: Enter debits before credits. Date 3 April 30 Record entry General Journal Clear entry Debit Credit View general journal
Exercise 4-13 (Algo) Record transactions for employee purchases (LO4-6) Smith Trucking Services establishes a petty cash fund on April 3 for $500. By the end of April, the fund has a cash balance of $403. The company has also issued a credit card and authorized its office manager to make purchases, Expenditures for the month include the following items: Utilities (credit card) Entertainment (petty cash) Postage (petty cash) Repairs and maintenance (credit card) Required: 1. Record the establishment of the petty cash fund on April 3 2. Record credit card expenditures during the month. The credit card balance is paid in full on April 30. 3. Record petty cash expenditures during the month. (If no entry is required for a transaction/event, select "No Journal Entry Required" In the first account field.) View transaction list Journal entry worksheet < 1 2 Record the establishment of the petty cash fund on April 3. Note: Enter debits before credits 3 3. Record petty cash expenditures during the month. (If no entry is required for a transaction/event, select "No Journal Entry Required" In the firs View transaction list 1 d Text Journal entry worksheet Date April 30 2 Record credit card expenditures during the month. The credit card balance is paid in full on April 30. Note: Enter debits before credits. $132 41 56 227 3 Record entry General Journal Clear entry Debit Credit View general journal
Transcribed Image Text:Exercise 4-13 (Algo) Record transactions for employee purchases (LO4-6) Smith Trucking Services establishes a petty cash fund on April 3 for $500. By the end of April, the fund has a cash balance of $403. The company has also issued a credit card and authorized its office manager to make purchases, Expenditures for the month include the following items: Utilities (credit card) Entertainment (petty cash) Postage (petty cash) Repairs and maintenance (credit card) Required: 1. Record the establishment of the petty cash fund on April 3 2. Record credit card expenditures during the month. The credit card balance is paid in full on April 30. 3. Record petty cash expenditures during the month. (If no entry is required for a transaction/event, select "No Journal Entry Required" In the first account field.) View transaction list Journal entry worksheet < 1 2 Record the establishment of the petty cash fund on April 3. Note: Enter debits before credits 3 3. Record petty cash expenditures during the month. (If no entry is required for a transaction/event, select "No Journal Entry Required" In the firs View transaction list 1 d Text Journal entry worksheet Date April 30 2 Record credit card expenditures during the month. The credit card balance is paid in full on April 30. Note: Enter debits before credits. $132 41 56 227 3 Record entry General Journal Clear entry Debit Credit View general journal
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