On October 1, 2018, "ABC" Company establishes a petty cash fund by issuing a check for $200 to the custodian of the petty cash fund. On October 31, 2018, the custodian of the petty cash fund submitted the following paid petty cash receipts for replenishment of the petty cash fund when there is $47 cash in the fund: Freight-Out: $27 • Supplies Expense: 35 • Entertainment of Clients: 60 Postage Expense: 28 Based on the above given information, answer the following questions: The establishment of the petty cash On the replenishment date of the petty cash the information, the journal entry should record a cash over and short on the on the company's total asset. should make a journal entry. And based on the above given with an amount of
On October 1, 2018, "ABC" Company establishes a petty cash fund by issuing a check for $200 to the custodian of the petty cash fund. On October 31, 2018, the custodian of the petty cash fund submitted the following paid petty cash receipts for replenishment of the petty cash fund when there is $47 cash in the fund: Freight-Out: $27 • Supplies Expense: 35 • Entertainment of Clients: 60 Postage Expense: 28 Based on the above given information, answer the following questions: The establishment of the petty cash On the replenishment date of the petty cash the information, the journal entry should record a cash over and short on the on the company's total asset. should make a journal entry. And based on the above given with an amount of
College Accounting (Book Only): A Career Approach
13th Edition
ISBN:9781337280570
Author:Scott, Cathy J.
Publisher:Scott, Cathy J.
Chapter6: Bank Accounts, Cash Funds, And Internal Controls
Section: Chapter Questions
Problem 2PA
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am. 1200
![On October 1, 2018, "ABC" Company establishes a petty cash fund by issuing a check for $200 to the custodian of the petty cash fund.
On October 31, 2018, the custodian of the petty cash fund submitted the following paid petty cash receipts for replenishment of the
petty cash fund when there is $47 cash in the fund:
Freight-Out: $27
• Supplies Expense: 35
•
Entertainment of Clients: 60
Postage Expense: 28
Based on the above given information, answer the following questions:
The establishment of the petty cash
On the replenishment date of the petty cash the
information, the journal entry should record a cash over and short on the
on the company's total asset.
should make a journal entry. And based on the above given
with an amount of](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F2baa12ac-a1b3-4258-afce-35506a0a655f%2F899ae4fc-304f-44d3-b6c3-2906608766da%2Faizg5d_processed.png&w=3840&q=75)
Transcribed Image Text:On October 1, 2018, "ABC" Company establishes a petty cash fund by issuing a check for $200 to the custodian of the petty cash fund.
On October 31, 2018, the custodian of the petty cash fund submitted the following paid petty cash receipts for replenishment of the
petty cash fund when there is $47 cash in the fund:
Freight-Out: $27
• Supplies Expense: 35
•
Entertainment of Clients: 60
Postage Expense: 28
Based on the above given information, answer the following questions:
The establishment of the petty cash
On the replenishment date of the petty cash the
information, the journal entry should record a cash over and short on the
on the company's total asset.
should make a journal entry. And based on the above given
with an amount of
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