The Crown Company established a $1,000 petty cash fund by issuing a cheque to the custodian on October 1. On October 15, the petty cash fund was replenished and increased to $1,500. The contents of the petty cash fund prior to the October 15 replenishment were: Currency and coins $112 Petty cash receipts for: Transportation-in Delivery expense $137 240 Repairs to office equipment 153 Postage 230 Entertainment of customers 130 890 Total $1,002 Prepare the general journal entry to record the reimbursement and increasing of the fund on October 15.
The Crown Company established a $1,000 petty cash fund by issuing a cheque to the custodian on October 1. On October 15, the petty cash fund was replenished and increased to $1,500. The contents of the petty cash fund prior to the October 15 replenishment were: Currency and coins $112 Petty cash receipts for: Transportation-in Delivery expense $137 240 Repairs to office equipment 153 Postage 230 Entertainment of customers 130 890 Total $1,002 Prepare the general journal entry to record the reimbursement and increasing of the fund on October 15.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:The Crown Company established a $1,000 petty cash fund by issuing a cheque to the custodian
on October 1. On October 15, the petty cash fund was replenished and increased to $1,500. The
contents of the petty cash fund prior to the October 15 replenishment were:
Currency and coins
$112
Petty cash receipts for:
Transportation-in
Delivery expense
$137
240
Repairs to office equipment
153
Postage
230
Entertainment of customers
130
890
Total
$1,002
Prepare the general journal entry to record the reimbursement and increasing of the fund on
October 15.
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