Loucks Company established a $220 petty cash fund on October 2, 2024. The fund is replenished at the end of each month. At the end of October 2024, the fund contained $45 in cash and the following receipts: Office supplies Advertising Postage Miscellaneous Required: $ 80 52 8222 21 Prepare the necessary general journal entries to establish the petty cash fund on October 2 and to replenish the fund on October 31 Note: 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 transaction to establish the petty cash fund. Note: Enter debits before credits. Date October 02, 2024 General Journal Debit Credit
Loucks Company established a $220 petty cash fund on October 2, 2024. The fund is replenished at the end of each month. At the end of October 2024, the fund contained $45 in cash and the following receipts: Office supplies Advertising Postage Miscellaneous Required: $ 80 52 8222 21 Prepare the necessary general journal entries to establish the petty cash fund on October 2 and to replenish the fund on October 31 Note: 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 transaction to establish the petty cash fund. Note: Enter debits before credits. Date October 02, 2024 General Journal Debit Credit
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Loucks Company established a $220 petty cash fund on October 2, 2024. The fund is replenished at the end of each month. At the
end of October 2024, the fund contained $45 in cash and the following receipts:
Office supplies
Advertising
Postage
Miscellaneous
Required:
$ 80
52
8222
22
21
Prepare the necessary general journal entries to establish the petty cash fund on October 2 and to replenish the fund on October 31.
Note: 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 transaction to establish the petty cash fund.
Note: Enter debits before credits.
Date
October 02, 2024
General Journal
Debit
Credit
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