Required information [The following information applies to the questions displayed below.] Fresh Foods established a petty cash fund of $325 on January 2. On January 31, the fund contained cash of $141.60 and vouchers for the following cash payments. Maintenance expense $ 68.50 Office supplies Transportation expense 76.e0 37.50 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. b. Record the events in general Journal format. (If no entry is required for a transaction/event, select "No journal entry requlred" 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
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Required Information
[The following Information applies to the questions displayed below.]
Fresh Foods established a petty cash fund of $325 on January 2. On January 31, the fund contalned cash of $141.60 and
vouchers for the following cash payments.
Maintenance expense
$ 68.50
Office supplies
Transportation expense
76.00
37.50
The three distinct accounting events affecting the petty cash fund for the perlod 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.
b. Record the events In general Journal format. (If no entry is requlred for a transaction/event, select "No journal entry requlred" In
the first account field. Round your answers to 2 decimal places.)
Transcribed Image Text:Required Information [The following Information applies to the questions displayed below.] Fresh Foods established a petty cash fund of $325 on January 2. On January 31, the fund contalned cash of $141.60 and vouchers for the following cash payments. Maintenance expense $ 68.50 Office supplies Transportation expense 76.00 37.50 The three distinct accounting events affecting the petty cash fund for the perlod 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. b. Record the events In general Journal format. (If no entry is requlred for a transaction/event, select "No journal entry requlred" In the first account field. Round your answers to 2 decimal places.)
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