Petty Cash Fund EntriesJournalize the entries to record the following:Check is issued to establish a petty cash fund of $600.The amount of cash in the petty cash fund is now $198. Check is issued to replenish the fund, based on the following summary of petty cash receipts: office supplies, $233; miscellaneous selling expense, $96; miscellaneous administrative expense, $60. (Because the amount of the check to replenish the fund plus the balance in the fund do not equal $600, record the discrepancy in the cash short and over account.)a. Journalize the entry to establish the petty cash fund. fill in the blank b45865f5d05b007_2 fill in the blank b45865f5d05b007_4b. Journalize the entry to replenish the petty cash fund. For a compound transaction, if an amount box does not require an entry, leave it blank. fill in the blank 44236403e05a042_2fill in the blank 44236403e05a042_3 fill in the blank 44236403e05a042_5fill in the blank 44236403e05a042_6 fill in the blank 44236403e05a042_8fill in the blank 44236403e05a042_9 fill in the blank 44236403e05a042_11fill in the blank 44236403e05a042_12

Answered: Petty Cash Fund Entries Journalize the…

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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Petty Cash Fund Entries

Journalize the entries to record the following:

Check is issued to establish a petty cash fund of $600.
The amount of cash in the petty cash fund is now $198. Check is issued to replenish the fund, based on the following summary of petty cash receipts: office supplies, $233; miscellaneous selling expense, $96; miscellaneous administrative expense, $60. (Because the amount of the check to replenish the fund plus the balance in the fund do not equal $600, record the discrepancy in the cash short and over account.)

a. Journalize the entry to establish the petty cash fund.

		fill in the blank b45865f5d05b007_2
			fill in the blank b45865f5d05b007_4

b. Journalize the entry to replenish the petty cash fund. For a compound transaction, if an amount box does not require an entry, leave it blank.

		fill in the blank 44236403e05a042_2	fill in the blank 44236403e05a042_3
		fill in the blank 44236403e05a042_5	fill in the blank 44236403e05a042_6
		fill in the blank 44236403e05a042_8	fill in the blank 44236403e05a042_9
		fill in the blank 44236403e05a042_11	fill in the blank 44236403e05a042_12

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