Solve questionWith given worksheetAlso another question what accounts are to be credited and what accounts are to be debited with amounts P 7-10A (L03)/ Replenishment: Cr. Cash, $149PETTY CASH RECORD AND JOURNAL ENTRIES On May 1, a petty cash fund wasestablished for $150. The following vouchers were issued during May:DateVoucher No.PurposeAmount$ 3.50Postage dueOffice suppliesAuto repair (miscellaneous)Drawing (Joy Adams)Donation (Red Cross)Travel expensesMay 113211.0043.007425.001110.001528.00227Postage stampsPhone call3.50268.5.00306.9 bd Donation (Boy Scouts)20.00REQUIRED1. Prepare the journal entry to establish the petty cash fund.2. Record the vouchers in the petty cash record. Total and rule the petty cashrecord.3. Prepare the journal entry to replenish the petty cash fund. Make theappropriate entry in the petty cash record. 5WP-248 CHAPTER 7e 2020 Cengage May not be scanned, copied or duplicated, or posted to a publicty accessible webprouCHAPTER 7 WP-2471. and 3.GENERAL JOURNALDESCRIPTIONDATEPAGEPOST.REF.DEBITCREDIT11Problem 7-10A (Concluded)2. and 3.PETTY CASH PAYMENTS FOR MONTH OFPAGE-0-CHARIT.POSTAGE CONTRIB.AMOUNT SUPPLIES EXPENSE EXPENSEDISTRIBUTION OF PAYMENTSTRAVEL &ENTER.EXPENSE EXPENSETOTALOFFICEPHONEEXPENSEMISC.DAYDESCRIPTIONNO.ACCOUNTAMOUNT1.12141515

Solution- Date Particulars Amount Amount A may 1 petty cash--------------------------DR…

Answered: Solve question With given worksheet…

Solve question With given worksheet Also another question what accounts are to be credited and what accounts are to be debited with amounts

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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Concept explainers

Bookkeeping

Bookkeeping is the process of recording the financial transactions of a company on a regular basis. With the process of bookkeeping, companies can track important financial information that helps management in making crucial decisions.

Question

Solve question

With given worksheet

Also another question what accounts are to be credited and what accounts are to be debited with amounts

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

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