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petty cash fund. Di

petty cash fund. Di

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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General Journal GENERAL JOURNAL POST. REF. DEBIT CREDIT DATE ACCOUNT TITLE 1 3 6. 8
Transcribed Image Text:General Journal GENERAL JOURNAL POST. REF. DEBIT CREDIT DATE ACCOUNT TITLE 1 3 6. 8
On October 1, 20--, a check was written in the amount of $300 to establish a petty cash fund. During October, the following vouchers were written for cash taken from the petty cash drawer: Voucher No. Account Debited Amount 1 Postage Expense $13 Miscellaneous Expense 17 John Flanagan, Drawing 34 4 Phone Expense 34 Charitable Contributions Expense 45 6. Automobile Expense 24 Required: Prepare (a) the journal entry to establish a petty cash fund and (b) the journal entry to replenish the petty cash fund.
Transcribed Image Text:On October 1, 20--, a check was written in the amount of $300 to establish a petty cash fund. During October, the following vouchers were written for cash taken from the petty cash drawer: Voucher No. Account Debited Amount 1 Postage Expense $13 Miscellaneous Expense 17 John Flanagan, Drawing 34 4 Phone Expense 34 Charitable Contributions Expense 45 6. Automobile Expense 24 Required: Prepare (a) the journal entry to establish a petty cash fund and (b) the journal entry to replenish the petty cash fund.
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