Kris Allen Company established a petty cash fund on May 1, cashing a cheque for $150. The
Question:
On July 10, Kris Allen increased the fund from $150 to $200.
Instructions
Prepare journal entries for Kris Allen Company for May 1, June 1, July 1, and July 10.
Transcribed Image Text:
June 1: Cash in fund, S4.75 Receipts: Delivery expense Postage expense Travel expense S31.25 39.00 62.00 July 1: Cash in fund, S3.25 Receipts Delivery expense Entertainment expense Supplies S31.00 71.00 44.75
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May 1 Petty Cash 15000 Cash 15000 June 1 Delivery Expense 3125 ...View the full answer
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Related Book For
Accounting Principles
ISBN: 978-1119048503
7th Canadian Edition Volume 1
Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel, Barbara Trenholm, Valerie Warren, Lori Novak
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A journal entry is an act of keeping or making records of any transactions either economic or non-economic. Transactions are listed in an accounting journal that shows a company\'s debit and credit balances. The journal entry can consist of several recordings, each of which is either a debit or a credit
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