Hi guys. I need some help with the below. Thank Brief Exercise 4-35 (Algorithmic) Petty Cash with Change in Fund Balance Canary Inc. maintains a petty cash fund with a balance of $2,200. During the month of September, Canary's employees made routine expenses using cash from the petty cash fund totaling $1,580. At the end of September, Canary replenishes the petty cash account, but it also decides to increase the fund balance to $3,150. Canary classifies all petty cash transactions as miscellaneous expense. Required: Prepare a journal entry to record the petty cash activity. For a compound transaction, if an amount box does not require an entry, leave it blank. Petty Cash Fund fill in the blank 2 fill in the blank 3 Miscellaneous Expense fill in the blank 5 fill in the blank 6 Cash fill in the blank 8 fill in the blank 9
Hi guys. I need some help with the below. Thank Brief Exercise 4-35 (Algorithmic) Petty Cash with Change in Fund Balance Canary Inc. maintains a petty cash fund with a balance of $2,200. During the month of September, Canary's employees made routine expenses using cash from the petty cash fund totaling $1,580. At the end of September, Canary replenishes the petty cash account, but it also decides to increase the fund balance to $3,150. Canary classifies all petty cash transactions as miscellaneous expense. Required: Prepare a journal entry to record the petty cash activity. For a compound transaction, if an amount box does not require an entry, leave it blank. Petty Cash Fund fill in the blank 2 fill in the blank 3 Miscellaneous Expense fill in the blank 5 fill in the blank 6 Cash fill in the blank 8 fill in the blank 9
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Hi guys. I need some help with the below.
Thank
Brief Exercise 4-35 (
Petty Cash with Change in Fund Balance
Canary Inc. maintains a petty cash fund with a balance of $2,200. During the month of September, Canary's employees made routine expenses using cash from the petty cash fund totaling $1,580. At the end of September, Canary replenishes the petty cash account, but it also decides to increase the fund balance to $3,150. Canary classifies all petty cash transactions as miscellaneous expense.
Required:
Prepare a
| Petty Cash Fund | fill in the blank 2 | fill in the blank 3 | |
| Miscellaneous Expense | fill in the blank 5 | fill in the blank 6 | |
| Cash | fill in the blank 8 | fill in the blank 9 |
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