On July 1 AAA Company established a petty cash fund with $20o. During the first 15 days of July several payments totaling $192 were made for miscellaneous

Principles of Accounting Volume 1
19th Edition
ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax
Chapter8: Fraud, Internal Controls, And Cash
Section: Chapter Questions
Problem 2PB: On July 2 Kellie Company has decided to initiate a petty cash fund in the amount of $1,200. Prepare...
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b) cash balance on July 15 was $8.
CREDIT
DATE
ACCOUNT TITLES
DEBIT
July 15
c) cash balance on July 15 was $11.
DATE ACCOUNT TITLES
DEBIT
CREDIT
July 15
%24
Transcribed Image Text:b) cash balance on July 15 was $8. CREDIT DATE ACCOUNT TITLES DEBIT July 15 c) cash balance on July 15 was $11. DATE ACCOUNT TITLES DEBIT CREDIT July 15 %24
On July 1 AAA Company established a petty cash fund with $200. During the first
15 days of July several payments totaling $192 were made for miscellaneous
expenses using the petty cash fund. On July 15 replenishment of the fund was
requested.
at of
Required
1) Prepare the necessary journal entry on
July 1.
DATE
ACCOUNT TITLES
DEBIT
CREDIT
July 1
$
2) Prepare the necessary journal entry on July 15, in the following scenarios:
a) cash balance on July 15 was $5.
July 15
$
2$
b) cash balance on July 15 was $8.
DATE
ACCOUNT TITLES
DEBIT
CREDIT
July 15
24
$
Transcribed Image Text:On July 1 AAA Company established a petty cash fund with $200. During the first 15 days of July several payments totaling $192 were made for miscellaneous expenses using the petty cash fund. On July 15 replenishment of the fund was requested. at of Required 1) Prepare the necessary journal entry on July 1. DATE ACCOUNT TITLES DEBIT CREDIT July 1 $ 2) Prepare the necessary journal entry on July 15, in the following scenarios: a) cash balance on July 15 was $5. July 15 $ 2$ b) cash balance on July 15 was $8. DATE ACCOUNT TITLES DEBIT CREDIT July 15 24 $
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