On March 20, Dody’s petty cash fund of $100 is replenished when the fund contains $9 in cash and receipts for postage $52, freight-out $26, and travel expense $10. Prepare the journal entry to record the replenishment of the petty cash fund.
Answer to relevant QuestionsLance Bachman is uncertain about the control features of a bank account. Explain the control benefits of (a) A check (b) A bank statement.Gary Stanten is concerned with control over mail receipts at Gary’s Sporting Goods. All mail receipts are opened by Al Krane. Al sends the checks to the accounting department, where they are stamped “For Deposit Only.” ...Listed below are five procedures followed by Eikenberry Company.1. Several individuals operate the cash register using the same register drawer.2. A monthly bank reconciliation is prepared by someone who has no other cash ...The cash records of Dawes Company show the following four situations.1. The June 30 bank reconciliation indicated that deposits in transit total $920. During July, the general ledger account Cash shows deposits of $15,750, ...Haig Company maintains a petty cash fund for small expenditures. The following transactions occurred over a 2-month period.July 1 Established petty cash fund by writing a check on China Bank for $100.15 Replenished the petty ...
Post your question