Please Do not Give image format OBJ. 5,4PR 8-2A Transactions for petty cash, cash short and overCactus Restoration Company completed the following selected transactions duringMay 2016:Oct. 1. Established a petty cash fund of $750.12.The cash sales for the day, according to the cash register records, totaled $12,440The actual cash received from cash sales was $12,465.31.Petty cash on hand was $157. Replenished the petty cash fund for the followingdisbursements, each evidenced by a petty cash receipt: Oct.3. Store supplies, $390.7. Express charges on merchandise sold, $35 (Delivery Expense).9. Office supplies, $16.13. Office supplies, $22.19. Postage stamps, $12 (Office Supplies).21. Repair to office file cabinet lock, $15 (Miscellaneous AdministrativeExpense).22. Postage due on special delivery letter, $27 (Miscellaneous Administra-tive Expense).24.Express charges on merchandise sold, $55 (Delivery Expense).30. Office supplies, $6.Oct. 31. The cash sales for the day, according to the cash register records, totaled $18,820.The actual cash received from cash sales was $18.780.31. Decreased the petty cash fund by $100.InstructionsJournalize the transactions.

A small sum of cash is kept on hand by a company or organisation as petty cash to cover little or…

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Business

Accounting

Please Do not Give image format

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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Question

Please Do not Give image format

OBJ. 5,4
PR 8-2A Transactions for petty cash, cash short and over
Cactus Restoration Company completed the following selected transactions during
May 2016:
Oct. 1. Established a petty cash fund of $750.
12.
The cash sales for the day, according to the cash register records, totaled $12,440
The actual cash received from cash sales was $12,465.
31.
Petty cash on hand was $157. Replenished the petty cash fund for the following
disbursements, each evidenced by a petty cash receipt:

Oct.
3. Store supplies, $390.
7. Express charges on merchandise sold, $35 (Delivery Expense).
9. Office supplies, $16.
13. Office supplies, $22.
19. Postage stamps, $12 (Office Supplies).
21. Repair to office file cabinet lock, $15 (Miscellaneous Administrative
Expense).
22. Postage due on special delivery letter, $27 (Miscellaneous Administra-
tive Expense).
24.
Express charges on merchandise sold, $55 (Delivery Expense).
30. Office supplies, $6.
Oct. 31. The cash sales for the day, according to the cash register records, totaled $18,820.
The actual cash received from cash sales was $18.780.
31. Decreased the petty cash fund by $100.
Instructions
Journalize the transactions.

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