Jeremiah Restoration Company completed the following selected transactions during January:Jan. 1.Established a petty cash fund of $750.12.The cash sales for the day, according to the cash register records, totaled $11,494. The actual cash received from cash sales was $11,519.31.Petty cash on hand was $157. Replenished the petty cash fund for the following disbursements, each evidenced by a petty cash receipt: Jan. 3.Store supplies, $398.7.Express charges on merchandise sold, $32 (Delivery Expense).9.Office supplies, $16.13.Office supplies, $18.19.Postage stamps, $13 (Office Supplies).21.Repair to office file cabinet lock, $11 (Miscellaneous Administrative Expense).22.Postage due on special delivery letter, $27 (Miscellaneous Administrative Expense).24.Express charges on merchandise sold, $52 (Delivery Expense).30.Office supplies, $8. Jan. 31.The cash sales for the day, according to the cash register records, totaled $18,255. The actual cash received from cash sales was $18,215.31.Decreased the petty cash fund by $110. Journalize the transactions. Refer to the Chart of Accounts for exact wording of account titles.

Petty cash fund: Petty cash fund is a fund established to pay insignificant amounts like postage,…

Answered: Jeremiah Restoration Company completed…

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter8: Fraud, Internal Controls, And Cash

Section: Chapter Questions

Problem 1PB: On June 1 French company has decided to initiate a petty cash fund in the amount of $800. Prepare...

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Jeremiah Restoration Company completed the following selected transactions during January:

Jan. 1.	Established a petty cash fund of $750.
12.	The cash sales for the day, according to the cash register records, totaled $11,494. The actual cash received from cash sales was $11,519.
31.	Petty cash on hand was $157. Replenished the petty cash fund for the following disbursements, each evidenced by a petty cash receipt:

Jan. 3.	Store supplies, $398.
7.	Express charges on merchandise sold, $32 (Delivery Expense).
9.	Office supplies, $16.
13.	Office supplies, $18.
19.	Postage stamps, $13 (Office Supplies).
21.	Repair to office file cabinet lock, $11 (Miscellaneous Administrative Expense).
22.	Postage due on special delivery letter, $27 (Miscellaneous Administrative Expense).
24.	Express charges on merchandise sold, $52 (Delivery Expense).
30.	Office supplies, $8.

Jan. 31.	The cash sales for the day, according to the cash register records, totaled $18,255. The actual cash received from cash sales was $18,215.
31.	Decreased the petty cash fund by $110.

Journalize the transactions. Refer to the Chart of Accounts for exact wording of account titles.

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