Journalize the necessary entries for each of the following: a. Issued a check to establish a petty cash fund of $800. If an amount box does not require an entry, leave it blank. 88 Petty Cash Cash v Feedback V Check My Work a. Recall that the only time Petty Cash is used is when the fund is initially established or increased. b. The amount of cash in the petty cash fund is $270. Issued a check to replenish the fund, based on the following summary of petty cash receipts: store supplies, $310 and miscellaneous selling expense, $196. Record any missing funds in the cash short and over account. If an amount box does not require an entry, leave it blank. Store Supplies v Miscellaneous Selling Expense Cash Short and Over v Cash v
Journalize the necessary entries for each of the following: a. Issued a check to establish a petty cash fund of $800. If an amount box does not require an entry, leave it blank. 88 Petty Cash Cash v Feedback V Check My Work a. Recall that the only time Petty Cash is used is when the fund is initially established or increased. b. The amount of cash in the petty cash fund is $270. Issued a check to replenish the fund, based on the following summary of petty cash receipts: store supplies, $310 and miscellaneous selling expense, $196. Record any missing funds in the cash short and over account. If an amount box does not require an entry, leave it blank. Store Supplies v Miscellaneous Selling Expense Cash Short and Over v Cash v
Corporate Financial Accounting
14th Edition
ISBN:9781305653535
Author:Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:Carl Warren, James M. Reeve, Jonathan Duchac
Chapter7: Internal Control And Cash
Section: Chapter Questions
Problem 7.4BE
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