19th Edition

ISBN: 9781947172685

Author: OpenStax

Publisher: OpenStax College

Concept explainers

As a commerce student, we all know that every business has to maintain a cash book to maintain all his cash and bank transactions. A cash book is a book which has two columns, one cash column and one bank column.

Textbook Question

Chapter 8, Problem 2EB

Record the following transactions:

A. Started a petty cash fund in the amount of $260.

B. Replenished petty cash fund using the following expenses: Auto $15, Office Expenses $20, Postage Expense $81, Miscellaneous Expenses $104. Cash on hand is $37.

C. Increased petty cash by $80.

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Chapter 8, Problem 1EB

Chapter 8, Problem 3EB

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