FileCX511QUESTION FOURDay124Ⓡ1015The following transactions relate to Chisenga and sons Limited based in Chisel town. Thebalance brought down on the petty cash account on 1 September 2017 is the imprest amount ofK5, 500.2530137%Coffee purchased for K180Repair to light switch K120 (inclusive of VAT @ 16%)Taxi fare K50& QPay to cleaner K150Repairs K60 (inclusive of VAT @ 16%)Bought stationery K150 (inclusive of VAT @ 16%)Taxi fare K50Required:(a) Record the above transactions in the petty cash book and post the month-end totals to thegeneral ledger T accounts.

Given in the question: Imprest balance as on the September 1, 2017 is K5,500 It has been given that…

Answered: Record the above transactions in the…

Business

Accounting

Record the above transactions in the petty cash book and post the month-end totals to the general ledger T accounts.

Quickbooks Online Accounting

3rd Edition

ISBN:9780357391693

Author:Owen

Publisher:Owen

Chapter4: Operating Activities: Sales And Cash Receipts

Section: Chapter Questions

Problem 3.7C

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Cash Book

So, before coming to the topic of cash books, I will let you briefly explain about the cash so that you all can be familiar with the word cash. Cash comes under the category of the current asset which is used as a medium of exchange for all the financial transactions in the firm. Cash is something that is universally accepted as a mode of payment. So, now comes to the topic i.e., cash book.

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Accounting for Cash and cash equivalents

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