PETTY CASH RECORD AND JOURNAL ENTRIES On May 1, a petty cash fund was established for $150. The following vouchers were issued during May: $149 Date Voucher No. Purpose Amount Postage due Office supplies Auto repair (miscellaneous) Drawing (Joy Adams) Donation (Red Cross) Travel expenses May 1 1 $ 3.50 11.00 3 43.00 4 25.00 11 5 10.00 15 6. 28.00 22 Postage stamps Phone call 3.50 26 8 5.00 30 9. Donation (Boy Scouts) 20.00 REQUIRED 1. Prepare the journal entry to establish the petty cash fund. 2. Record the vouchers in the petty cash record. Total and rule the record. petty cash 3. Prepare the journal entry to replenish the petty cash fund. Make the appropriate entry in the petty cash record.
PETTY CASH RECORD AND JOURNAL ENTRIES On May 1, a petty cash fund was established for $150. The following vouchers were issued during May: $149 Date Voucher No. Purpose Amount Postage due Office supplies Auto repair (miscellaneous) Drawing (Joy Adams) Donation (Red Cross) Travel expenses May 1 1 $ 3.50 11.00 3 43.00 4 25.00 11 5 10.00 15 6. 28.00 22 Postage stamps Phone call 3.50 26 8 5.00 30 9. Donation (Boy Scouts) 20.00 REQUIRED 1. Prepare the journal entry to establish the petty cash fund. 2. Record the vouchers in the petty cash record. Total and rule the record. petty cash 3. Prepare the journal entry to replenish the petty cash fund. Make the appropriate entry in the petty cash record.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Help me please
![P 7-10A (L03)
/ Replenishment: Cr. Cash, $149
PETTY CASH RECORD AND JOURNAL ENTRIES On May 1, a petty cash fund was
established for $150. The following vouchers were issued during May:
Date
Voucher No.
Purpose
Amount
$ 3.50
Postage due
Office supplies
Auto repair (miscellaneous)
Drawing (Joy Adams)
Donation (Red Cross)
Travel expenses
May 1
1
3
2
11.00
43.00
7
4
25.00
11
10.00
15
28.00
22
7
Postage stamps
Phone call
3.50
26
8.
5.00
30
6.
9 bd Donation (Boy Scouts)
20.00
REQUIRED
1. Prepare the journal entry to establish the petty cash fund.
2. Record the vouchers in the petty cash record. Total and rule the petty cash
record.
3. Prepare the journal entry to replenish the petty cash fund. Make the
appropriate entry in the petty cash record.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F9cce7234-e091-426b-988b-b2c7bf3ac015%2Fc962f32b-9fcb-4392-9038-d111547326db%2F52algfn_processed.jpeg&w=3840&q=75)
Transcribed Image Text:P 7-10A (L03)
/ Replenishment: Cr. Cash, $149
PETTY CASH RECORD AND JOURNAL ENTRIES On May 1, a petty cash fund was
established for $150. The following vouchers were issued during May:
Date
Voucher No.
Purpose
Amount
$ 3.50
Postage due
Office supplies
Auto repair (miscellaneous)
Drawing (Joy Adams)
Donation (Red Cross)
Travel expenses
May 1
1
3
2
11.00
43.00
7
4
25.00
11
10.00
15
28.00
22
7
Postage stamps
Phone call
3.50
26
8.
5.00
30
6.
9 bd Donation (Boy Scouts)
20.00
REQUIRED
1. Prepare the journal entry to establish the petty cash fund.
2. Record the vouchers in the petty cash record. Total and rule the petty cash
record.
3. Prepare the journal entry to replenish the petty cash fund. Make the
appropriate entry in the petty cash record.
![5
WP-248 CHAPTER 7
e 2020 Cengage May not be scanned, copied or duplicated, or posted to a publicty accessible web
prou
CHAPTER 7 WP-247
1. and 3.
GENERAL JOURNAL
DESCRIPTION
DATE
PAGE
POST.
REF.
DEBIT
CREDIT
11
Problem 7-10A (Concluded)
2. and 3.
PETTY CASH PAYMENTS FOR MONTH OF
PAGE
-0-
CHARIT.
POSTAGE CONTRIB.
AMOUNT SUPPLIES EXPENSE EXPENSE
DISTRIBUTION OF PAYMENTS
TRAVEL &
ENTER.
EXPENSE EXPENSE
TOTAL
OFFICE
PHONE
EXPENSE
MISC.
DAY
DESCRIPTION
NO.
ACCOUNT
AMOUNT
1.
12
14
15
15](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F9cce7234-e091-426b-988b-b2c7bf3ac015%2Fc962f32b-9fcb-4392-9038-d111547326db%2Fh4826u8_processed.jpeg&w=3840&q=75)
Transcribed Image Text:5
WP-248 CHAPTER 7
e 2020 Cengage May not be scanned, copied or duplicated, or posted to a publicty accessible web
prou
CHAPTER 7 WP-247
1. and 3.
GENERAL JOURNAL
DESCRIPTION
DATE
PAGE
POST.
REF.
DEBIT
CREDIT
11
Problem 7-10A (Concluded)
2. and 3.
PETTY CASH PAYMENTS FOR MONTH OF
PAGE
-0-
CHARIT.
POSTAGE CONTRIB.
AMOUNT SUPPLIES EXPENSE EXPENSE
DISTRIBUTION OF PAYMENTS
TRAVEL &
ENTER.
EXPENSE EXPENSE
TOTAL
OFFICE
PHONE
EXPENSE
MISC.
DAY
DESCRIPTION
NO.
ACCOUNT
AMOUNT
1.
12
14
15
15
Expert Solution
![](/static/compass_v2/shared-icons/check-mark.png)
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 2 steps with 1 images
![Blurred answer](/static/compass_v2/solution-images/blurred-answer.jpg)
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
![FINANCIAL ACCOUNTING](https://compass-isbn-assets.s3.amazonaws.com/isbn_cover_images/9781259964947/9781259964947_smallCoverImage.jpg)
![Accounting](https://www.bartleby.com/isbn_cover_images/9781337272094/9781337272094_smallCoverImage.gif)
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
![Accounting Information Systems](https://www.bartleby.com/isbn_cover_images/9781337619202/9781337619202_smallCoverImage.gif)
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
![FINANCIAL ACCOUNTING](https://compass-isbn-assets.s3.amazonaws.com/isbn_cover_images/9781259964947/9781259964947_smallCoverImage.jpg)
![Accounting](https://www.bartleby.com/isbn_cover_images/9781337272094/9781337272094_smallCoverImage.gif)
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
![Accounting Information Systems](https://www.bartleby.com/isbn_cover_images/9781337619202/9781337619202_smallCoverImage.gif)
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
![Horngren's Cost Accounting: A Managerial Emphasis…](https://www.bartleby.com/isbn_cover_images/9780134475585/9780134475585_smallCoverImage.gif)
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
![Intermediate Accounting](https://www.bartleby.com/isbn_cover_images/9781259722660/9781259722660_smallCoverImage.gif)
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
![Financial and Managerial Accounting](https://www.bartleby.com/isbn_cover_images/9781259726705/9781259726705_smallCoverImage.gif)
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education