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Global Fiter Corp. completed the following petty cash transactions during May and June in 2014 May 1: Drew a $300.00 cheque, cashed , and gave the proceeds and the petty cash box to Travis Goodal, the pety casher May 5: Purchased office fie folders, $24.00, to be used this month May 7: Purchased office supplies for $38.30, to be used this month. May 18: Paid $24.55 for minor computer repairs May 26: Paid $45.35 for stamps May 20 Paid $30 10 to mal a contract to a client May 31 Travis Goodall sorted the petty cash receipts by accounts affected and exchanged them for a choque to reimburse the fund for expenditures. However, there was only $134.00 in cash in the fund June 14 Paid $36.95 for postage expenses June 21: Paid $39 95 courier charges to deliver merchandise to a customer June 22 Paid $34.75 to mail a contract to a client June 30 Travis Goodall sorted the petty cash receipts by accounts affected and exchanged them for a chaqueto reimburse the fund for expenditures. There was $100 25 in cash in the fund. In addition, the of the petty cash fund was increased to $350.00 Prepare three journal entries: one to establish the petty cash fund, the second to record the reimbursement of the fund at the end of the first month, and the last to record the reimbursement of the fund at the of the second month. Enter an appropriate description when entering the transactions in the journal. Dates must be entered in the format ddommm (e January 15 would be 15Jan) General Journal Account Explanation Page GM F Debe Credit

Global Fiter Corp. completed the following petty cash transactions during May and June in 2014 May 1: Drew a $300.00 cheque, cashed , and gave the proceeds and the petty cash box to Travis Goodal, the pety casher May 5: Purchased office fie folders, $24.00, to be used this month May 7: Purchased office supplies for $38.30, to be used this month. May 18: Paid $24.55 for minor computer repairs May 26: Paid $45.35 for stamps May 20 Paid $30 10 to mal a contract to a client May 31 Travis Goodall sorted the petty cash receipts by accounts affected and exchanged them for a choque to reimburse the fund for expenditures. However, there was only $134.00 in cash in the fund June 14 Paid $36.95 for postage expenses June 21: Paid $39 95 courier charges to deliver merchandise to a customer June 22 Paid $34.75 to mail a contract to a client June 30 Travis Goodall sorted the petty cash receipts by accounts affected and exchanged them for a chaqueto reimburse the fund for expenditures. There was $100 25 in cash in the fund. In addition, the of the petty cash fund was increased to $350.00 Prepare three journal entries: one to establish the petty cash fund, the second to record the reimbursement of the fund at the end of the first month, and the last to record the reimbursement of the fund at the of the second month. Enter an appropriate description when entering the transactions in the journal. Dates must be entered in the format ddommm (e January 15 would be 15Jan) General Journal Account Explanation Page GM F Debe Credit

College Accounting (Book Only): A Career Approach
College Accounting (Book Only): A Career Approach
13th Edition
ISBN:9781337280570
Author:Scott, Cathy J.
Publisher:Scott, Cathy J.
Chapter6: Bank Accounts, Cash Funds, And Internal Controls
Section: Chapter Questions
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Global Filler Corp, completed the following petty cash transactions during May and June in 2014 May 1: Drew a $300.00 cheque, cashed it, and gave the proceeds and the petty cash box to Travis Goodall, the petty cashier May 5: Purchased office file folders, $24.00, to be used this month May 7: Purchased office supplies for $38.30, to be used this month. May 18: Paid $24.55 for minor computer repairs May 26 Paid $45.35 for stamps. May 20: Paid $30.10 to mail a contract to a client May 31 Travis Goodall sorted the petty cash receipts by accounts affected and exchanged them for a choque to reimburse the fund for expenditures. However, there was only $134.00 in cash in the fund June 14 Paid $36.95 for postage expenses. June 21: Paid $30.05 courier charges to deliver merchandise to a customer June 22 Paid $34.75 to mail a contract to a client. June 30: Travis Goodall sorted the petty cash receipts by accounts affected and exchanged them for a cheque to reimburse the fund for expenditures. There was $100 35 in cash in the tund. In addition, the size of the petty cash fund was increased to $350.00 Prepare three journal entries: one to establish the petty cash fund, the second to record the reimbursement of the fund at the end of the first month, and the last to record the reimbursement of the fund at the end of the second month. Enter an appropriate description when entering the transactions in the journal. Dates must be entered in the format ddimmm (ie January 15 would be 15/Jan Page GM Date General Journal Account Explanation CH F Debit Cred
Transcribed Image Text:Global Filler Corp, completed the following petty cash transactions during May and June in 2014 May 1: Drew a $300.00 cheque, cashed it, and gave the proceeds and the petty cash box to Travis Goodall, the petty cashier May 5: Purchased office file folders, $24.00, to be used this month May 7: Purchased office supplies for $38.30, to be used this month. May 18: Paid $24.55 for minor computer repairs May 26 Paid $45.35 for stamps. May 20: Paid $30.10 to mail a contract to a client May 31 Travis Goodall sorted the petty cash receipts by accounts affected and exchanged them for a choque to reimburse the fund for expenditures. However, there was only $134.00 in cash in the fund June 14 Paid $36.95 for postage expenses. June 21: Paid $30.05 courier charges to deliver merchandise to a customer June 22 Paid $34.75 to mail a contract to a client. June 30: Travis Goodall sorted the petty cash receipts by accounts affected and exchanged them for a cheque to reimburse the fund for expenditures. There was $100 35 in cash in the tund. In addition, the size of the petty cash fund was increased to $350.00 Prepare three journal entries: one to establish the petty cash fund, the second to record the reimbursement of the fund at the end of the first month, and the last to record the reimbursement of the fund at the end of the second month. Enter an appropriate description when entering the transactions in the journal. Dates must be entered in the format ddimmm (ie January 15 would be 15/Jan Page GM Date General Journal Account Explanation CH F Debit Cred
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