Required information Exercise 6-14A (Algo) Effect of petty cash events on the financial statements LO 6-4 [The following information applies to the questions displayed below.] Fresh Foods established a petty cash fund of $275 on January 2. On January 31, the fund contained cash of $70.30 and vouchers for the following cash payments. Maintenance expense office supplies $79.25 84.00 37.25 Transportation expense The three distinct accounting events affecting the petty cash fund for the period were (1) establishment of the fund, (2) reimbursements made to employees, and (3) recognition of expenses and replenishment of the fund. Assume the company uses the alternative approach to petty cash expense recognition and replenishment. Exercise 6-14A (Algo) Part b b. Record the events in general journal format. (If no entry is required for a transaction/event, select "No journal entry required in the first account field. Round your answers to 2 decimal places.)

Required information Exercise 6-14A (Algo) Effect of petty cash events on the financial statements LO 6-4 [The following information applies to the questions displayed below.] Fresh Foods established a petty cash fund of $275 on January 2. On January 31, the fund contained cash of $70.30 and vouchers for the following cash payments. Maintenance expense office supplies $79.25 84.00 37.25 Transportation expense The three distinct accounting events affecting the petty cash fund for the period were (1) establishment of the fund, (2) reimbursements made to employees, and (3) recognition of expenses and replenishment of the fund. Assume the company uses the alternative approach to petty cash expense recognition and replenishment. Exercise 6-14A (Algo) Part b b. Record the events in general journal format. (If no entry is required for a transaction/event, select "No journal entry required in the first account field. Round your answers to 2 decimal places.)

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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E8.8
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Question 7
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