In general journal form, prepare journal entries to establish a petty cash fund on July 2 and
Question:
In general journal form, prepare journal entries to establish a petty cash fund on July 2 and replenish it on July 31.
2018 July
2 A $104 petty cash fund is established.
31 At the end of the month, $21 cash plus the following paid vouchers exist: donations expense, $21; postage expense, $18; office supplies expense, $29; miscellaneous expense, $15.
Step by Step Answer:
2018 July 3 31 Petty Cash Cash Establishment o...View the full answer
College Accounting A Practical Approach
ISBN: 978-0134166698
13th Canadian edition
Authors: Jeffrey Slater, Debra Good
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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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