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Make entries in general journal form to record the following: 1. Establish a Petty Cash Fund, $300. 2. The amount of cash in the petty cash fund is now $10.05. Replenish the fund based on the following summary of petty cash vouchers: $62.20 Office Supplies $75.00 Postage $59.15 Miscellaneous $57.50 Repairs $50.00 Drawing

Make entries in general journal form to record the following: 1. Establish a Petty Cash Fund, $300. 2. The amount of cash in the petty cash fund is now $10.05. Replenish the fund based on the following summary of petty cash vouchers: $62.20 Office Supplies $75.00 Postage $59.15 Miscellaneous $57.50 Repairs $50.00 Drawing

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Make entries in general journal form to record the following: 1. Establish a Petty Cash Fund, $300. 2. The amount of cash in the petty cash fund is now $10.05. Replenish the fund based on the following summary of petty cash vouchers: $62.20 Office Supplies $75.00 Postage $59.15 Miscellaneous $57.50 Repairs $50.00 Drawing
Transcribed Image Text:Make entries in general journal form to record the following: 1. Establish a Petty Cash Fund, $300. 2. The amount of cash in the petty cash fund is now $10.05. Replenish the fund based on the following summary of petty cash vouchers: $62.20 Office Supplies $75.00 Postage $59.15 Miscellaneous $57.50 Repairs $50.00 Drawing
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