5:25 1AAbartleby.com= bartlebyE Q&ABusiness / Accounting / Fin... / Transactions for petty cash, ...: Transactions for petty cash, cash sho...Get 24/7 homework help and experts withbartleby learn. Subscribe now!->Chapter 7, Problem 2PATextbook ProblemTransactions for petty cash, cash short andoverWyoming Restoration Company completed thefollowing selected transactions during July20Y1:July 1. Established a petty cash fund of $1,100.12. The cash sales for the day, according to the cash register records, totaled $8,192. The actual cash receivedfrom cash sales was $8,220.31. Petty cash on hand was $47. Replenished the petty cash fund for the following disbursements, each evi-denced by a petty cash receipt:July 3. Store supplies, $580.7. Express charges on merchandise sold, $90 (Delivery Expense).9. Office supplies, $30.13. Office supplies, $35.19. Postage stamps, $50 (Office Supplies).21. Repair to office file cabinet lock, $60 (Miscellaneous Administrative Expense).22. Postage due on special delivery letter, $28 (Miscellaneous Administrative Expense).24. Express charges on merchandise sold, $135 (Delivery Expense).30. Office supplies, $25.Privacy - Terms31. The cash sales for the day, according to the cash register records, totaled $10,241.The actual cash received from cash sales was $10,232.31. Decreased the petty cash fund by $150.X FREE QUESTIONS

Petty cash fund: Petty cash fund is a fund established to pay insignificant amounts like postage,…

Answered: Transactions for petty cash, cash short…

Business

Accounting

Transactions for petty cash, cash short and over

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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Cash Book

So, before coming to the topic of cash books, I will let you briefly explain about the cash so that you all can be familiar with the word cash. Cash comes under the category of the current asset which is used as a medium of exchange for all the financial transactions in the firm. Cash is something that is universally accepted as a mode of payment. So, now comes to the topic i.e., cash book.

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Accounting for Cash and cash equivalents

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19 When the petty cash fund is replenished: Multiple Choice Cash is debited. Petty Cash is credited. Petty Cash is debited. Appropriate expense and/or asset accounts are debited.
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