The following transactions occurred in April 2020 for Brittneys Designs; Apr. 1 Issued cheque No. 14 for
Question:
The following transactions occurred in April 2020 for Brittney’s Designs;
Apr.
1 Issued cheque No. 14 for $120 to establish a petty cash fund.
5 Paid $10 from petty cash for postage, voucher No. 1.
8 Paid $19 from petty cash for office supplies, voucher No. 2.a
15 Issued cheque No. 15 to Upright Corp. for $160 for past purchases on account.
17 Paid $17 from petty cash for office supplies, voucher No. 3.
20 Issued cheque No. 16 to Barret Corp. $675 for past purchases on account.
24 Paid $19 from petty cash for postage, voucher No. 4.
26 Paid $12 from petty cash for local church donation, voucher No. 5 (a miscellaneous payment).
28 Issued cheque No. 17 to Jay Loon to pay for office equipment, $625.
30 Replenished petty cash, cheque No. 18. Assume no shortage or overage.
Required
a. Record the appropriate entries in the general journal and the auxiliary petty cash record as needed.
b. Replenish the petty cash fund on April 30 (cheque No. 18).
Step by Step Answer:
College Accounting A Practical Approach
ISBN: 978-0134166698
13th Canadian edition
Authors: Jeffrey Slater, Debra Good