Transactions for Petty Cash, Cash Short and Over Cedar Springs Company completed the following selected transactions during June: June 1. Established a petty cash fund of $1,290. 12. The cash sales for the day, according to the cash register records, totaled $13,686. The actual cash received from cash sales was $13,703. 30. Petty cash on hand was $98. Replenished the petty cash fund for the following disbursements, each evidenced by a petty cash receipt: June 2. Store supplies, $142. June 10. Express charges on merchandise purchased, $206 (Merchandise Inventory). June 14. Office supplies, $90. June 15. Office supplies, $103. June 18. Postage stamps, $108 (Office Supplies). June 20. Repair to fax, $258 (Miscellaneous Administrative Expense). June 21. Repair to office door lock, $90 (Miscellaneous Administrative Expense). June 22. Postage due on special delivery letter, $70 (Miscellaneous Administrative Expense). June 28. Express charges on merchandise purchased, $103 (Merchandise Inventory). 30. The cash sales for the day, according to the cash register records, totaled $21,779. The actual cash received from cash sales was $21,736. 30. Increased the petty cash fund by $323. Required: Journalize the transactions. If an amount box does not require an entry, leave it blank. June 1 June 12 June 30-Replenish June 30-Sale June 30-Petty cash
Transactions for Petty Cash, Cash Short and Over Cedar Springs Company completed the following selected transactions during June: June 1. Established a petty cash fund of $1,290. 12. The cash sales for the day, according to the cash register records, totaled $13,686. The actual cash received from cash sales was $13,703. 30. Petty cash on hand was $98. Replenished the petty cash fund for the following disbursements, each evidenced by a petty cash receipt: June 2. Store supplies, $142. June 10. Express charges on merchandise purchased, $206 (Merchandise Inventory). June 14. Office supplies, $90. June 15. Office supplies, $103. June 18. Postage stamps, $108 (Office Supplies). June 20. Repair to fax, $258 (Miscellaneous Administrative Expense). June 21. Repair to office door lock, $90 (Miscellaneous Administrative Expense). June 22. Postage due on special delivery letter, $70 (Miscellaneous Administrative Expense). June 28. Express charges on merchandise purchased, $103 (Merchandise Inventory). 30. The cash sales for the day, according to the cash register records, totaled $21,779. The actual cash received from cash sales was $21,736. 30. Increased the petty cash fund by $323. Required: Journalize the transactions. If an amount box does not require an entry, leave it blank. June 1 June 12 June 30-Replenish June 30-Sale June 30-Petty cash
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Transcribed Image Text:Transactions for Petty Cash, Cash Short and Over
Cedar Springs Company completed the following selected transactions during June:
June 1. Established a petty cash fund of $1,290.
12. The cash sales for the day, according to the cash register records, totaled $13,686.
The actual cash received from cash sales was $13,703.
30. Petty cash on hand was $98. Replenished the petty cash fund for the following
disbursements, each evidenced by a petty cash receipt:
June 2. Store supplies, $142.
June 10. Express charges on merchandise purchased, $206 (Merchandise Inventory).
June 14. Office supplies, $90.
June 15. Office supplies, $103.
June 18. Postage stamps, $108 (Office Supplies).
June 20. Repair to fax, $258 (Miscellaneous Administrative Expense).
June 21. Repair to office door lock, $90 (Miscellaneous Administrative Expense).
June 22. Postage due on special delivery letter, $70 (Miscellaneous Administrative Expense).
June 28. Express charges on merchandise purchased, $103 (Merchandise Inventory).
30. The cash sales for the day, according to the cash register records, totaled $21,779.
The actual cash received from cash sales was $21,736.
30. Increased the petty cash fund by $323.
Transcribed Image Text:Required:
Journalize the transactions. If an amount box does not require an entry, leave it blank.
June 1
June 12
June 30-Replenish
June 30-Sale
June 30-Petty cash
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