The following petty cash transactions were made by the Freeman Corporation during the month of September. Record the transactions in the journal provided in the account order that they appear below. Sep 1Established a petty cash fund of $300. Sep 15Reimbursed the petty cash fund for the following: Stapler, staples, and tape $55 Pizza for the office party (meals) $85 Maintenance/Janitorial $112 The cash in the box before reimbursement was $40. Sep 16Realized the petty cash fund should be increased to $400. Sep 30Reimbursed the petty cash fund for the following: Delivery charges $85 Toner and paper for office printer $115 Lunch for the customer $130 The cash in the box before reimbursement was $75. General Journal DateAccount Debit Credit

Petty cash is used by the company to meet day to day small expenses.

Answered: The following petty cash transactions…

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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The following petty cash transactions were made by the Freeman Corporation during the month
of September. Record the transactions in the journal provided in the account order that they appear below.

Sep 1	Established a petty cash fund of $300.

Sep 15	Reimbursed the petty cash fund for the following:
	Stapler, staples, and tape	$55
	Pizza for the office party (meals)	$85
	Maintenance/Janitorial	$112

	The cash in the box before reimbursement was $40.

Sep 16	Realized the petty cash fund should be increased to $400.

Sep 30	Reimbursed the petty cash fund for the following:
	Delivery charges	$85
	Toner and paper for office printer	$115
	Lunch for the customer	$130

	The cash in the box before reimbursement was $75.

General Journal
	Date	Account	Debit	Credit

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