Willard Company established a $500 petty cash fund on September 9, 2020. On September 30, the fund had $199.40 in cash along with receipts for these expenditures: transportation-in, $40.50, office supplies, $14170, and repairs expense, $11.40 Willard uses the perpetual method to account for merchandise inventory. The petty cashier could not account for the $700 shortage in the fund a. Prepare the September 9 entry to establish the fund. View transaction list View journal entry worksheet No 1 Date Sep 09, 2020 Petty cash Cash General Journal Debit 500 Credit 500

Willard Company established a $500 petty cash fund on September 9, 2020. On September 30, the fund had $199.40 in cash along with receipts for these expenditures: transportation-in, $40.50, office supplies, $14170, and repairs expense, $11.40 Willard uses the perpetual method to account for merchandise inventory. The petty cashier could not account for the $700 shortage in the fund a. Prepare the September 9 entry to establish the fund. View transaction list View journal entry worksheet No 1 Date Sep 09, 2020 Petty cash Cash General Journal Debit 500 Credit 500

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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