Nakashima Gallery had the following petty cash transactions in February of the current year. Feb. 2 Wrote a $340 check, cashed it, and gave the proceeds and the petty cashbox to Chloe Addison, the petty cashier. 5 Purchased bond paper for the copier for $16.55 that is immediately used. 9 Paid $44.50 COD shipping charges on merchandise purchased for resale, terms FOB shipping point. Nakashima uses the perpetual system to account for merchandise inventory. 12 Paid $8.75 postage to express mail a contract to a client. 14 Reimbursed Adina Sharon, the manager, $74 for business mileage on her car. 20 Purchased stationery for $68.77 that is immediately used. 23 Paid a courier $23 to deliver merchandise sold to a customer, terms FOB destination. 25 Paid $11.10 COD shipping charges on merchandise purchased for resale, terms FOB shipping point. 27 Paid $51 for postage expenses. 28 The fund had $22.81 remaining in the petty cash box. Sorted the petty cash receipts by accounts affected and exchanged them for a check to reimburse the fund for expenditures. 28 The petty cash fund amount is increased by $70 to a total of $410. Prepare the journal entries for part 2 to both (a) reimburse and (b) increase the fund amount. (Round your answers to 2 decimal places.)
Nakashima Gallery had the following petty cash transactions in February of the current year. |
Feb. | 2 |
Wrote a $340 check, cashed it, and gave the proceeds and the petty cashbox to Chloe Addison, the petty cashier. |
|
5 |
Purchased bond paper for the copier for $16.55 that is immediately used. |
||
9 |
Paid $44.50 COD shipping charges on merchandise purchased for resale, terms FOB shipping point. Nakashima uses the perpetual system to account for merchandise inventory. |
||
12 |
Paid $8.75 postage to express mail a contract to a client. |
||
14 |
Reimbursed Adina Sharon, the manager, $74 for business mileage on her car. |
||
20 |
Purchased stationery for $68.77 that is immediately used. |
||
23 |
Paid a courier $23 to deliver merchandise sold to a customer, terms FOB destination. |
||
25 |
Paid $11.10 COD shipping charges on merchandise purchased for resale, terms FOB shipping point. |
||
27 | Paid $51 for postage expenses. | ||
28 |
The fund had $22.81 remaining in the petty cash box. Sorted the petty cash receipts by accounts affected and exchanged them for a check to reimburse the fund for expenditures. |
||
28 | The petty cash fund amount is increased by $70 to a total of $410. |
Prepare the |
- Record the reimbursement of the petty cash fund.
- Record the increase of the petty cash fund.
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2.
Record the reimbursement of the petty cash fund.
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Note: Enter debits before credits.
Date
General Journal
Debit
Credit
ces
Feb 28
Record entry
Clear entry
View general journal
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Journal entry worksheet
1
Record the increase of the petty cash fund.
Note: Enter debits before credits.
Date
General Journal
Debit
Credit
Feb 28
Clear entry
View general journal
Record entry
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