On April 2, Granger Sales decides to establish a $280 petty cash fund to relieve the burden on Accounting. a.  Journalize the establishment of the fund. Apr. 2               b.  On April 10, the petty cash fund has receipts for mail and postage of $56, contributions and donations of $29, and meals and entertainment of $110. The remaining cash is $81 in the ending cash balance. Journalize the replenishment of the fund. If an amount box does not require an entry, leave it blank. c.  On April 11, Granger Sales decides to increase petty cash by $160. Journalize this event

Q: etty Cash Fund Entries Journalize the entries to record the following: Check is issued to establish…

A: a) Journal entry to establish the petty cash fund Date Accounts title and explanation Debit…

Q: On April 3rd, Snappy Sales decides to establish a $135.00 Petty Cash Account to relieve the burden…

A: Please find the answers to the above questions below:

Q: 1. Brooks Agency set up a petty cash fund for $260. At the end of the current period, the fund…

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Q: Quibble Company established a $300 petty cash fund by issuing a check to the custodian on February…

A: Step 1: Debit all the petty cash receipts to recognize them as expenses and so that their amounts…

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A: Ans. Journal entry to record expenses made from petty cash funds can be passed either by making a…

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A: A Petty cash fund is established to take care of the daily small expenses of a firm. This is…

Q: Prepare journal entries for the above transactions. If an amount box does not require an entry,…

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Q: On April 2, Granger Sales decides to establish a $280 petty cash fund to relieve the burden on…

A: Introduction: Journals: Recording of  a business transactions in a chronological order. First step…

Q: Journalize the entries to record the following: June 1   Established a petty cash fund of $200.…

A: Journal Entry It is used to record the business transactions in an accounting systems.

Q: 1. Brooks Agency set up a petty cash fund for $270. At the end of the current period, the fund…

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Q: On March 20, Novak's petty cash fund of $118 is replenished when the fund contains $20 in cash and…

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Q: On April 2, Granger Sales decides to establish a $350 petty cash fund to relieve the burden on…

A: Petty cash is a small quantity of money kept on hand to handle minor costs including repayments or…

Q: On September 29, the company determined that the petty cash fund needed to be increased to $1,000.…

A: The petty cash fund is established to maintain the cash balance for regular activities of the…

Q: Hawk Company establishes a $350 petty cash fund on September 9. The journal entry to establish the…

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Q: 7. Journalize the entries to record the following: established a petty cash fund of $350 The amount…

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Cash Book

So, before coming to the topic of cash books, I will let you briefly explain about the cash so that you all can be familiar with the word cash. Cash comes under the category of the current asset which is used as a medium of exchange for all the financial transactions in the firm. Cash is something that is universally accepted as a mode of payment. So, now comes to the topic i.e., cash book.