Waupaca Company establishes a $440 petty cash fund on September 9. On September 30, the fund shows $202 in cash along with receipts for the following expenditures: transportation-in, $50; postage expenses, $66; and miscellaneous expenses, $110. The petty cashier could not account for a $12 shortage in the fund. The company uses the perpetual system in accounting for merchandise inventory. Prepare (1) the September 9 entry to establish the fund, (2) the September 30 entry to reimburse the fund, and (3) an October 1 entry to increase the fund to $510. View transaction list Journal entry worksheet 1 2 3 Prepare the journal entry to establish the petty cash fund. Note: Enter debits before credits. Date September 09 General Journal Debit Credit Petty cash 440 Cash 440 View general journal Record entry Clear entry

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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.